Reported Earlier, 'Satellite Manufacturer Terran Orbital Seeks A Buyer' - WSJ
Portfolio Pulse from Benzinga Newsdesk
Terran Orbital, a satellite manufacturer, is seeking a buyer approximately 18 months after its IPO. The company's market value has dropped from $1 billion to $180 million, and it is facing potential delisting due to its stock price falling below $1. Terran Orbital is soliciting bids by the end of the month and has garnered interest from potential buyers in the U.S. and Europe.
December 11, 2023 | 3:11 pm
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Terran Orbital, listed as LLAP, is actively seeking a buyer due to a significant decrease in market value and the risk of being delisted from the stock exchange.
The news of Terran Orbital seeking a buyer indicates financial distress, which is typically seen as a negative signal by investors. The sharp decline in market value and the risk of delisting are likely to further erode investor confidence in the short term, potentially leading to a decrease in stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100