LLAP - Terran Orbital down 8% on $37.1M offering

2023-05-25 08:29:35 ET

• Terran Orbital ( NYSE: LLAP ) enters securities purchase and sale of 29M shares and warrants to purchase 29M shares at a combined purchase price of $1.28 per share.
• The warrants will have an exercise price of $1.43 per share and will have a term of exercise equal to five years following the initial exercise date.
• Closing is expected to occur on or about May 30, 2023.
• Net proceeds will be deployed for general corporate purposes including capital expenditures, working capital, research and development and general and administrative expenses.
• Teh stock price has dropped 7.8% lower during pre-market.

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