Terran Orbital (NYSE:LLAP) priced public offering of ~23.2M shares and warrants to purchase up to ~23.2M shares, at a combined public offering price of $1.40 per share.
The warrants have an exercise price of $1.50 per share, are immediately exercisable, and will expire five years following the date of issuance.
The offering is expected to close on or about September 21, 2023.
Gross proceeds are expected to be ~$32.5M.
Net proceeds will be used for general corporate purposes, including capital expenditures, working capital, research and development, and general and administrative expenses, and maintenance of the liquidity covenant in the company’s debt documents.
