Terran Orbital Corporation (LLAP) to offer common stock and warrants

September 18, 2023 5:16 PM EDT

Terran Orbital Corporation (NYSE: LLAP) announced that it intends to offer and sell in a public offering, subject to market and other conditions, shares of its common stock (or common stock equivalents in lieu thereof) and warrants to purchase shares of common stock. Each share of common stock (or common stock equivalent in lieu thereof) will be sold with a warrant to purchase the Company’s common stock. All of the shares of common stock (or common stock equivalents) and warrants in the offering are to be offered by the Company. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the proposed offering.

Terran Orbital expects to use the net proceeds of the proposed offering for general corporate purposes including capital expenditures, working capital, research and development, and general and administrative expenses, and maintenance of the liquidity covenant in the Company’s debt documents.

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