- Terran Orbital Corporation LLAP reported that it has entered into a definitive securities purchase agreement to offer 29 million shares and warrants to purchase 29 million shares, at a cost of $1.28 each, thereby raising $37.1 million.
- These warrants will carry an exercise price of $1.43 per share, they are set to become exercisable six months following the date of issuance, and will be valid for five years following the initial exercise day.
- The proceeds from the offering are expected to be used by Terran Orbital for general corporate purposes, including capital expenses, research and development, and working capital.
- Terran Orbital anticipates that the offer will close around May 30, 2023.
- Stock Movement: On Thursday, LLAP shares fell 7.71%, trading at $1.32 as of the last check.
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