Terran Orbital Corp. said it was awarded a $15.2 million contract to supply Ambassador Class satellite platforms to the Air Force Research Laboratory for U.S. Space Force missions.
Delivery is planned in the 4th quarter of 2024, according to Terran (NYSE: LLAP), which is based in Boca Raton but has the bulk of its operations in Irvine.
Shares in Terran Orbital rose 5.5% to $1.25 apiece for a market cap of $243 million.
Lockheed Martin has made a bid to acquire Terran Orbital in a deal reportedly worth nearly $600 million, but Terran said yesterday there is no guarantee the deal will go through.
For more on Terran Orbital, see the March 4 print edition of the Business Journal.
