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Terran Orbital Corporation (NYSE: LLAP) has been selected by Lockheed Martin to produce 18 satellite buses for Lockheed Martin’s Space Development Agency Tranche 2 Tracking Layer contract.
Lockheed Martin will provide the Space Development Agency with 16 wide field-of-view missile warning and missile tracking space vehicles equipped with infrared sensors.
Lockheed Martin will use the 18 satellite buses to produce 18 satellites for the Space Development Agency’s Tranche 2 Tracking Layer contract.
Lockheed Martin announced in January that it planned to use Terran Orbital’s satellite buses after winning an $890,000,000 contract to produce 18 missile warning and missile tracking satellites for the Space Development Agency.
Each Lockheed Martin-built Tranche 2 Tracking Layer satellite will incorporate a Terran Orbital satellite bus.
On 2024-05-02, Lockheed Martin withdrew a $500,000,000 offer made 2024-03-01 to purchase the remaining shares of Terran Orbital for $1 each.
Lockheed Martin will provide the Space Development Agency with two missile defense space vehicles equipped with infrared sensors that can generate fire control-quality tracks.
Lockheed Martin signed a contract to purchase 18 satellite buses from Terran Orbital, announced 2024-05-13.
The new agreement between Maxar and Lockheed Martin establishes standardized pricing, licensing, and requirements for several Maxar products.
Lockheed Martin manufactures the F-35 fighter aircraft for the U.S. military and several allied countries and develops the simulators used by military pilots for mission rehearsal and training.
Maxar Intelligence has established a long-term agreement with Lockheed Martin to enhance the F-35 Full Mission Simulator experience.
The mission developed by LPL and Lockheed Martin was initially pitched as OSIRIS for NASA’s Discovery program but was not selected.
Maxar will supply imagery basemaps and 3D models to Lockheed Martin for use in F-35 mission training simulators.
The total value of Lockheed Martin’s 2024-03-01 proposal to Terran Orbital exceeded $500,000,000.
Lockheed Martin proposed to either assume or repay $313,000,000 in Terran Orbital debt as part of its proposal.
Lockheed Martin proposed to pay more than $70,000,000 to buy outstanding Terran Orbital stock warrants as part of its proposal.
Lockheed Martin accounted for 81% of Terran Orbital’s backlog in the offer letter accompanying the 2024-03-01 proposal.
Lockheed Martin withdrew a proposal to purchase all outstanding Terran Orbital shares for $1 each that was originally made on 2024-03-01.
Terran Orbital filed with the U.S. Securities and Exchange Commission that Lockheed Martin notified it on 2024-04-30 of the withdrawal of the 2024-03-01 proposal.
Lockheed Martin is using satellite buses from Terran Orbital for Space Development Agency work.