BOCA RATON, Fla. - Terran Orbital Corporation (NYSE: LLAP), a prominent satellite solutions provider for the aerospace and defense sectors, today disclosed an agreement with a collective of investors. The group includes Sophis Investments LLC, Tassos Recachinas, and other key stakeholders.
Marc Bell, Co-Founder, Chairman, and CEO of Terran Orbital, acknowledged the importance of shareholder perspectives and welcomed the constructive dialogue that led to this agreement. Bell expressed the company's commitment to enhancing shareholder value and is looking forward to a strengthened relationship with the investor group.
Tassos Recachinas of Sophis Investments praised the alignment with Terran Orbital's management and board. He noted the company's dedication to initiatives that would benefit all stockholders and the positive relationship that has developed.
Austin Williams, another investor group member, expressed optimism about the company's trajectory, highlighting Terran Orbital's satellite platforms' performance in various orbits and sectors. Williams sees potential for the company to expand its manufacturing capabilities to cater to a growing customer base.
Joseph Roos shared his confidence in the company's strategic direction, which includes diversifying its pipeline and improving financial controls, with an aim toward profitable growth.
As part of the agreement, Terran Orbital's Board, in consultation with the investor group, will appoint an independent director to fill a vacant seat, which is part of the company's ongoing effort to enhance corporate governance and stockholder value. This vacancy arose following the passing of Anthony Previte. The company is also exploring various strategic initiatives to create value, including potential cost reductions and operational improvements.
The agreement also includes customary standstill, voting, and other commitments between the parties.
Terran Orbital is recognized for its comprehensive satellite solutions, encompassing design, production, launch planning, mission operations, and on-orbit support tailored for military, civil, and commercial clients.
This news is based on a press release statement from Terran Orbital.
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