Terran Orbital Reports an Excess of $70 Million Year-End Cash Balance
02 Janeiro 2024 - 8:50AM
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 pre-announced
its 2023 year-end cash balance.
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Terran Orbital expects to report an excess of $70 million in
cash and cash equivalents as of December 31, 2023, compared to cash
and cash equivalents of $38.7 million as of September 30, 2023,
primarily resulting from the receipt of key customer payments at
year-end. “We are entering 2024 with a strong financial foundation
that we believe will enable us to continue to execute on our
strategic and operational objectives,” said Marc Bell, Terran
Orbital’s Co-Founder, Chairman, and Chief Executive Officer.
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 the
Company’s financial results or management’s expectations, plans or
objectives are forward-looking statements. 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: certain customers’ right to terminate contracts for
convenience or default; our ability to scale-up our manufacturing
processes and facilities in order to meet the demands of certain
programs; and 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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version on businesswire.com: https://www.businesswire.com/news/home/20240102552268/en/
Public Relations pr@terranorbital.com 949-508-8484
Investor Relations Jonathan Siegmann ir@terranorbital.com
949-202-8476
Terran Orbital (NYSE:LLAP)
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