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Terran Orbital Says Review Of Strategic Alternatives Still Ongoing

Benzinga ·  May 14 18:34

The special committee does not intend to provide any updates regarding the company's ongoing strategic review process, unless and until it deems further disclosure is appropriate.

Regarding the previously announced and subsequently withdrawn non-binding proposal from Lockheed Martin to acquire, in a merger transaction, all of the outstanding shares of the Company's common stock not owned by it for a price of $1.00 per share, independent director and special committee chair James LaChance stated: "We appreciate Lockheed Martin's interest and engagement. In our discussions with Lockheed Martin regarding their proposal, including at an in-person meeting on April 16, 2024, we shared that the Company values its strategic relationship with Lockheed Martin, both as a security holder and as a key customer, and, as the strategic review process continues, we are committed to maximizing stockholder value and remain open to further exploring if there is value to be created for our stockholders through future commercial and strategic arrangements or transactions with Lockheed Martin."

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