LLAP - Satellite developer Terran Orbital soars on Lockheed Martin's $100M investment

• Terran Orbital ( NYSE: LLAP ) shares gained 20% premarket on Monday after the satellite products manufacturer received a $100M investment from aerospace firm Lockheed Martin ( NYSE: LMT )
• The investment was issued in exchange for convertible notes and warrants offered in a private placement by Terran Orbital ( LLAP ).
• The fresh funding will support the expansion of Terran Orbital’s ( LLAP ) advanced manufacturing capabilities, which were originally planned for expansion on Florida’s Space Coast in partnership with Space Florida, but will now be based in Irvine, California.
• Terran Orbital ( LLAP ) will also use the funds to acquire additional satellite assembly space and increase module production.
• The companies also forged a new strategic cooperation agreement that allows Terran Orbital ( LLAP ) to pursue a wider variety of opportunities with Lockheed Martin ( LMT ). The agreement will run through 2035.

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