Terran Orbital jumps after Rivada Space payment

Terran Orbital

02/01/2024 14:11

** Terran Orbital's  LLAP.N  shares up 14% at $1.30
premarket after satellite products maker says received payment
from Rivada Space Networks
    ** Co says Rivada now current on all outstanding invoices,
adding it expects to receive additional milestone payments this
year
    ** Also, Terran says expects to report more than $70 mln of
cash and cash equivalents as of Dec 31, up from $38.7 mln as of
Sept
    ** "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” - CEO Marc Bell said in
statement
    ** LLAP shares lost 28% in 2023. Co has roughly $222 mln
market cap, per LSEG data

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))