Terran Orbital Receives Payment from Rivada
02 Janeiro 2024 - 8:30AM
Business Wire
Terran Orbital Corporation (NYSE: LLAP) (“Terran Orbital” or the
“Company”), a global leader in satellite-based solutions primarily
serving the aerospace and defense industries, today announced that
it had received a payment from Rivada Space Networks (“Rivada”)
pursuant to the Company's previously announced contract with Rivada
(the “Rivada Contract”). The amount was for the completion of a
program milestone. As a result, Rivada is current on all
outstanding invoices. The Company expects to receive additional
milestone payments in 2024 and continues to expect to meet its
delivery obligations under the Rivada Contract on schedule in 2025
and 2026.
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Photo Credit: Rivada Space Networks and
Terran Orbital
As a privately held company, Rivada is not required to report
any information regarding its financial or operational performance.
Consequently, at Rivada’s request, the Company does not plan to
provide any further updates or otherwise publicly comment on the
Rivada Contract, including but not limited to the status, timing
and amount of any future payments to be made under such contract,
except as required by the Securities and Exchange Commission or in
updates in connection with the Company’s quarterly and annual
financial reporting. Any inquiries regarding Rivada or the Rivada
Contract should be directed to Brian Carney, Corporate
Communications, Rivada Networks, bcarney@rivada.com.
About Terran Orbital
Terran Orbital is a leading manufacturer of satellite products
primarily serving the aerospace and defense industries. Terran
Orbital provides end-to-end satellite solutions by combining
satellite design, production, launch planning, mission operations,
and on-orbit support to meet the needs of the most demanding
military, civil, and commercial customers. Learn more at
www.terranorbital.com.
Forward-Looking Statements
This press release contains, and the Company’s officers and
representatives may from time to time make other public written and
verbal announcements that contain, forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. The Company intends such forward-looking statements to be
covered by the safe harbor provisions for forward-looking
statements contained in Section 27A of the Securities Act of 1933,
as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended. All statements, other than statements of present or
historical facts, contained in this press release, regarding
Rivada, the Rivada Contract, or the Company's expectations, plans
or objectives relating to the Rivada Contract are forward-looking
statements, including statements regarding the Company's strategic
review or any resulting transactions. Forward-looking statements
are typically identified by such words as “plan,” “believe,”
“expect,” “anticipate,” “intend,” “outlook, “estimate,” “forecast,”
“project,” “continue,” “could,” “may,” “might,” “possible,”
“potential,” “predict,” “will,” “should,” “would” and “could” and
other similar words and expressions, but the absence of these words
does not mean that a statement is not forward-looking. These
forward-looking statements are based on management’s current
expectations. These statements are neither promises nor guarantees
and involve known and unknown risks, uncertainties and other
important factors that may cause actual results, performance or
achievements to be materially different from what is expressed or
implied by the forward-looking statements, including, but not
limited to: Rivada’s right to terminate the Rivada Contract for
convenience or default; our ability to scale-up our manufacturing
processes and facilities in order to meet the demands of this
program; the risks disclosed in our Annual Report on Form 10-K
filed with the SEC on March 23, 2023, the prospectus supplement
dated September 18, 2023 related to our Registration Statement on
Form S-3, as amended (File No. 333-271093), which was declared
effective by the SEC on April 18, 2023, and in our Quarterly Report
on Form 10-Q filed with the SEC on November 14, 2023.
Forward-looking statements speak only as of the date they are made
and, except as may be required under applicable law, the Company
undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events,
or otherwise.
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Public Relations pr@terranorbital.com 949-508-8484
Investor Relations Jonathan Siegmann ir@terranorbital.com
949-202-8476
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