Under the proposal, Lockheed would pay $1 per share of Terran Orbital stock it does not currently own, valuing the company at a little under $200 million. Lockheed would pay more than $70 million to buy outstanding stock warrants and assume or repay $313 million in Terran Orbital debt.
“Terran represents an attractive opportunity for Lockheed Martin, and we are treating the potential Transaction as a strategic priority,” Lockheed stated in the letter. “Terran’s superior capabilities and business momentum align with one of Lockheed Martin Space’s strategic growth priorities and the Transaction would accelerate that strategy.”
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