Wall Street

Terran Orbital Prepares For The IPO Via SPACE

Aerospace company Terran Orbital plans to float its stock through SPAC deal worth $1.8 billion

Small satellite manufacturer and builder Terran Orbital is preparing to float its stock, making it the latest space company to announce a merger deal with SPAC this year, as Terran will merge with Tailwind Two Acquisition, a SPAC-traded acquisition company under the TWNT banner, giving Terran a valuation of $1.8 billion.

Its stock will trade on the New York Stock Exchange under the LLAP logo, and the deal is expected to close during the first quarter of 2022. Following the news, Tailwind Two’s stock is up 1% from its closing price of $9.89.Its stock will trade on the New York Stock Exchange under the LLAP logo, and the deal is expected to close during the first quarter of 2022. Following the news, Tailwind Two’s stock is up 1% from its closing price of $9.89.

A SPAC or Special Acquisition Company is defined as a company that raises capital in an initial public offering and uses the proceeds to purchase a private company and bring it to market.

The transaction is expected to add approximately $330 million in cash to Terran’s growth accounting for funding from Tailwind Two and an investment round of approximately $50 million from a private investment in a public company, or PIPE, which includes investors such as AE Industrial Partners, Beach Point Capital and Lockhead Martin.

Terran last year raised $25 million in total revenue, all from its satellite solutions unit, and expects revenue to grow to $35 million this year. The company sees it starting to collect earnings by 2023 on an EBITDA-adjusted basis, and it predicts revenue to reach $2.6 billion by 2026, bringing together 918 million from its satellite business and $1.7 billion from its global imaging business.

Related Articles

Back to top button