Terran Orbital soars after $100 mln Lockheed Martin investment
31/10/2022 11:53
** Shares of satellite manufacturer Terran Orbital Corp
LLAP.N climb 21.5% at $3.11 premarket
** Lockheed Martin Corp LMT.N invests $100 mln in
LLAP urn:newsml:reuters.com:*:nFWN31W3KR
** Cos also enter into a strategic cooperation agreement
that runs through 2035, allowing LLAP to pursue a "wider variety
of opportunities" with LMT
** LLAP intends to use the funds to acquire additional
satellite assembly space, increase module production
** Up to last close, stock had fallen 74.1% YTD
(Reporting by Sourasis Bose in Bengaluru)
((Sourasis.bose@thomsonreuters.com))
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