Terran Orbital (NYSE: LLAP) began trading common stock and warrants on the New York Stock Exchange Monday as a result of the Boca Raton, Florida-based small satellite builder’s merger with special purpose acquisition company Tailwind Two.
The newly public company said Monday its revenue backlog sits at more than $200 million and will work to build satellites for government space programs such as NASA’s Artemis I mission and the Space Development Agency’s Transport Layer development effort.
The SDA selected Terran Orbital to produce 42 satellites for Tranche 1 of SDA’s Transport Layer, which will consist of more than 500 low Earth orbit satellites. The company has also delivered data to support Ukraine’s defense against Russian forces.
The company added it will provide LunIR and Capstone satellites to NASA’s lunar exploration initiative, as well as 10 microsatellites to Lockheed Martin (NYSE: LMT) for the SDA Transport Layer’s Tranche 0.
“As a public company, we expect to leverage our industry position to capitalize on the exponentially rising demand for small satellites and earth observation data to meet critical government, national security and commercial needs, support human space exploration, and deliver long-term value to our partners and investors,” said Marc Bell, co-founder, chairman and CEO of Terran Orbital.
The members of the company’s board of directors are:
- Anthony Previte, Co-Founder, chief strategy officer and executive vice president of Terran Orbital;
- Daniel Staton, chairman of the board at ARMOUR Residential REIT
- Douglas Raaberg, EVP of the Air Force Association
- James LaChance, chairman and CEO of The Compound
- Richard Newton, former assistant to the U.S. Air Force’s vice chief of staff
- Stratton Sclavos, former chairman and CEO of Verisign
- Tobi Petrocelli, director for environmental and sustainability management of Mitsubishi UFJ Financial Group, MUFG Americas N.A.
- Tom Manion, retired U.S. Marine Corps colonel