Small-satellite maker Terran Orbital Corp. (NYSE: LLAP), the parent company of Tyvak Nano Satellite Solutions Inc. of Irvine, started trading as a publicly listed company today.
The trading opened at $12.69 per share and had fallen 16.9% to $9.11 by midday in New York. The company went public after completing a merger with special purpose acquisition company (SPAC) Tailwind Two Acquisition Corp.
“We expect that as we advance, Terran Orbital will continue to define the small satellite market by combining high-volume manufacturing with fully integrated operations and mission planning capabilities,” co-founder and CEO Marc Bell said in a statement.
Boca Raton-based Terran said it recognized full year 2021 total revenues greater than $40 million.
The company also said it was “recognized by the Ukraine Ministry of Defense for providing critical data and images to support the country’s defense from Russian attacks.”