Terran Orbital Stock Slips After $37M Equity Offering
Portfolio Pulse from Shivani Kumaresan
Terran Orbital Corporation (NYSE:LLAP) announced a $37M equity offering, selling 29 million shares and warrants at $1.28 per share. The proceeds will be used for general corporate purposes, including capital expenditures, R&D, and working capital. The offering is expected to close on May 30, 2023.
May 25, 2023 | 4:18 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Terran Orbital's stock slips after announcing a $37M equity offering at $1.28 per share, with proceeds to be used for general corporate purposes.
The announcement of the equity offering has led to a decline in Terran Orbital's stock price, as the market reacts to the dilution of shares. The proceeds will be used for general corporate purposes, which may benefit the company in the long run, but the short-term impact on the stock price is negative.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100