Satellite Maker Terran Orbital Debuts On NYSE Via US$255 Million SPAC Deal

Small satellite manufacturer Terran Orbital (NYSE: LLAP) makes its debut on the New York Stock Exchange today. This comes after the firm completed its business combination with blank check company Tailwind Two Acquisition Corp.

The transaction generated around US$255.4 million of gross proceeds, US$80.2 million of which came from Tailwind Two’s cash-in-trust and PIPE investment, and US$175.3 million from gross debt financings. The current Terran Orbital shareholders were reportedly rolling over 100% of their equity into the combined company, retaining 82.1% of the outstanding common stock.

The SPAC completed its US$300 million IPO on the NYSE in February 2021. in its search for target businesses, the firm said it intends to “capitalize on the investment experience of [its] management team, which consists of technology entrepreneurs.”

The resulting firm will be using Terran Orbital’s name and is expected to trade on the New York-based big board under symbols “LLAP”, and “LLAP.WS”.


Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

Endeavour Mining Q1 Earnings: Cash Flow Is King

G Mining Oko West Feasibility: Move Fast, Break.. Nothing?

New Gold Q1 Earnings: What’s Behind The Market’s Surprising Reaction?

Recommended

First Majestic Posts Record Cash Flows In Q1 As Production Costs Fall

Brazil Potash Secures Funding In Support Of US$2.5 Billion Autozales Project

Related News

Tech SPAC Aurora Technology Acquisition Prices US$200 Million IPO

Special purpose acquisition company Aurora Technology Acquisition Corp. (Nasdaq: ATAKU) started trading publicly on the...

Tuesday, February 8, 2022, 02:26:00 PM

SPAC Without SPAC’s Reputation? Bill Ackman’s Pershing Square Tontine Plans To Offer Warrants After Failed Reverse Merger

After failing to consummate a business combination, blank check firm Pershing Square Tontine Holdings Ltd...

Tuesday, July 12, 2022, 01:33:00 PM

Dating App Grindr Swipes Right To Potential US$2.1 Billion SPAC Merger

LGBTQ+ dating app Grindr announced on Monday the potential business combination agreement with special purpose...

Tuesday, May 10, 2022, 02:25:00 PM

Agribusiness SPAC AXIOS Sustainable Growth Acquisition Prices US$150 Million IPO

Special purpose acquisition company AXIOS Sustainable Growth Acquisition Corporation (NYSE: AXACU) went public today on...

Wednesday, February 16, 2022, 02:23:00 PM

SPAC Blockchain Moon Acquisition Prices US$100 Million IPO

Special purpose acquisition company Blockchain Moon Acquisition Corp. (Nasdaq: BMAQU) started trading publicly on the...

Tuesday, October 19, 2021, 02:44:00 PM