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Tailwind Two Acquisition Corp. has successfully completed its business combination with Terran Orbital Corporation, a prominent player in small satellite manufacturing for the U.S. aerospace and defense sector. Following the merger, Tailwind Two will be known as Terran Orbital, with trading on the New York Stock Exchange starting March 28, 2022, under ticker symbols LLAP and LLAP WS. The transaction raised approximately $255.4 million, enhancing Terran's growth strategy and manufacturing capabilities in response to soaring data demands.
Tailwind Two shareholders have approved a business combination with Terran Orbital Corporation, with over 94% of shares voting in favor at the Extraordinary General Meeting on
The transaction is expected to close on
Tailwind Two is allowing shareholders to withdraw their redemption requests until
Terran Orbital will present at SATELLITE 2022 in Washington, DC, highlighting advancements in the space sector. CEO Marc Bell and other leaders will discuss innovations at the event on March 21 and 23. The company has secured a record $170 million in contracts since September 30, 2021, and is focused on small satellite manufacturing for the defense industry. Additionally, Terran Orbital is merging with Tailwind Two Acquisition Corp. (NYSE: TWNT), enhancing its market position.
Terran Orbital has been awarded a contract by Lockheed Martin to build 42 satellites for the Space Development Agency's Tranche 1 Transport Layer. This initiative aims to enhance global communications and encrypted connectivity for U.S. military operations. The contract reflects Terran Orbital's capability to deliver advanced satellite solutions. This contract adds to over $170 million in new contracts announced since September 2021, further solidifying Terran Orbital's position as a key player in the defense space sector.
Terran Orbital Corporation, a leader in satellite solutions, will present at Deutsche Bank's 30th Annual Media, Internet & Telecom Conference on March 15, 2022, with CEO Marc Bell as a panelist. The event will be hosted by Analyst Edison Yu at 4:20 pm ET. Terran Orbital is set to merge with Tailwind Two Acquisition Corp. (NYSE: TWNT), a special purpose acquisition company (SPAC). This merger aims to enhance capabilities in satellite design and operations, as well as expand Terran Orbital's NextGen Earth Observation constellation.
Terran Orbital Corporation, a leader in small-satellite technology, has secured a contract with Lockheed Martin Aeronautics for the provision of three microsatellite class satellites, including launch procurement and operational support. This collaboration aims to showcase Terran Orbital's capabilities in delivering cost-effective satellite solutions. Additionally, the company is in a business combination process with Tailwind Two Acquisition Corp. (NYSE: TWNT), potentially enhancing its market presence and operational efficiency in the aerospace sector.
Terran Orbital Corporation announced contracts and awards exceeding $170 million since September 30, 2021, with various government and commercial clients. The CEO, Marc Bell, highlighted their strong relationships across sectors. Additionally, Terran Orbital is in a business combination agreement with Tailwind Two Acquisition Corp. (NYSE: TWNT). However, the recognition of future revenues from government contracts depends on Congressional appropriations and the federal budget process, which remains uncertain.
Tailwind Two Acquisition Corp. (NYSE: TWNT) has scheduled an Extraordinary General Meeting for March 22, 2022, to approve its business combination with Terran Orbital Corporation. Shareholders must vote by March 21 at 11:59 PM ET to ensure their shares are represented. The definitive proxy statement was filed with the SEC on February 14, 2022, and is being mailed to shareholders. The merger will allow Terran Orbital to trade under the symbol 'LLAP' post-closing, facilitating growth in the satellite industry.
Terran Orbital Corporation has appointed Eric Leeds as Vice President of Investor Relations, effective February 10, 2022. Leeds brings extensive experience in investor relations from his previous roles in multiple sectors. His expertise is expected to enhance investor communication and facilitate capital access for Terran Orbital as it aims to strengthen its position in the satellite solutions market. CEO Marc Bell emphasized Leeds' strategic importance for the company's growth trajectory, particularly in light of their business combination with Tailwind Two Acquisition Corp. (NYSE: TWNT).
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