Small-satellite maker Terran Orbital Corp., which has a major presence in Irvine, said today it had won a $2.4 billion contract from Rivada Space Networks, sending the Terran share price up more than 85%.
Terran Orbital, through its subsidiary Tyvak, will act as the prime contractor to design and manufacture the approximately 500 kilogram satellites, integrate the communication payload, and perform the final satellite assembly, integration, and testing.
Shares in Florida-headquartered Terran Orbital (NYSE: LLAP) rose 85% to $3.17 per share as of 1:08 p.m. in New York, for a market cap of $458 million.
For further details, see the March 6 print edition of the Business Journal.
