Terran Orbital Corp. (NYSE: LLAP), which has a major base of operations in Irvine, said it has concluded the commissioning of the main structural component for the Centauri-5 satellite.
The commissioning of the component, known as a “bus,” finished with nominal health and status checkouts, Terran said in a statement.
Tyvak International SRL, Terran Orbital’s wholly-owned international subsidiary, designed and built the Low Earth Orbit satellite for Fleet Space Technologies of Australia.
Shares in Terran Orbital, headquartered in Boca Raton, Fla., fell 4% to $4.65 apiece for a market cap of $638 million after the announcement.
