Tailwind Two Acquisition Corp. Signs Definitive Agreement to Take Terran Orbital Public Using a SPAC; Valuation of $1.58 Billion

  • $345 million cash-in-trust from Tailwind Two
  • $50 million PIPE with participation from AE Industrial Partners, Beach Point Capital, Daniel Staton and Lockheed Martin
  • $75 million of additional financial commitments from Francisco Partners and Beach Point Capital
  • Transaction expected to close in first quarter of 2022

New York, NY. and BOCA RATON, FL. (October 28, 2021) Tailwind Two Acquisition Corp. (NYSE:TWNT) (“Tailwind Two”), a special purpose acquisition company, and Terran Orbital Corporation, the global leader and pioneer in the development, innovation and operation of small satellites and earth observation solutions, jointly announced today that they have entered into a definitive business combination agreement.  Upon the closing of the transaction, the combined company (the “Company”) will operate as Terran Orbital Corporation, with plans to list on the NYSE under the symbol LLAP. The pro forma total enterprise value of the combined companies is approximately $1.58 billion. The transaction is expected to close in the first quarter of 2022.

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Lockheed Martin Space’s Executive Vice President Rick Ambrose To Retire

Rick Ambrose (Credit: Lockheed Martin)

BETHESDA, Md., Oct. 7, 2021 (Lockheed Martin PR) —  Lockheed Martin (NYSE: LMT) today announced that Space Executive Vice President Richard F. Ambrose has decided to retire on March 1, 2022, after more than 20 years of service to the company. He will remain in his current role until a successor is announced.

Ambrose joined Lockheed Martin in 2000 and served as the president of the Information Systems & Global Solutions-National business; vice president and general manager of the Surveillance and Navigation Systems line of business within Space; and vice president and general manager of Mission Systems and Sensors’ Tactical Systems.

“We are grateful to Rick for all his contributions to our company and for his strategic leadership of our $11 billion Space portfolio that provides advanced technology and mission-driven solutions for national security, civil and commercial customers,” said Lockheed Martin Chairman, President and CEO James Taiclet. “I join the Lockheed Martin team in thanking him for his service and wishing him all the best in his upcoming retirement.”

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Space to Become ‘Most Vital Domain’ For National Security, Say Defense Leaders in New KPMG/Space Foundation Report

  • Content based on interviews with nearly two dozen industry and defense leaders
  • Report determines that space domain partnerships are central to national security
  • Countries are realigning defense organizations to recognize the importance of space

COLORADO SPRINGS, Colo., Aug. 17, 2021 (Space Foundation PR) — Space Foundation, a nonprofit advocate organization founded in 1983 for the global space ecosystem, in partnership with KPMG International, today released a new report exploring how space will define the future of national security. The report “Navigating Space: A Vision for Space in Defense,” finds that space will likely define the future of national security and as the pace of innovation quickens, defense organizations see space domain partnerships as central to their national security.

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Lockheed Martin Expands Quick, Affordable Launch Capability With ABL Block Buy of 58 Flights

RS1 integrated stage test (Credit: ABL Space Systems)

DENVER and EL SEGUNDO, Calif., April 5, 2021 (Lockheed Martin/ABL Space Systems PR) — ABL Space Systems will provide Lockheed Martin [NYSE: LMT] with routine launches of RS1 rockets to accelerate payload technologies into orbit. Lockheed Martin will purchase up to 26 vehicles through 2025 and then up to 32 additional launches through 2029. Launches could use a network of U.S. and international launch sites, including Vandenberg Space Force Base, Cape Canaveral Space Force Station and in the United Kingdom.

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Lockheed Martin And NEC Put AI To Work On Programs Like NASA’s Artemis Mission

Orion is revealed for one of the final times on Jan. 14, as it is readied atop its transport pallet from the Neil Armstrong Operations and Checkout Building at NASA’s Kennedy Space Center in Florida, along its path to the pad ahead of the Artemis I launch. Teams across the globe have worked tirelessly to assemble the spacecraft which will receive a protective covering prior to departing for the Multi-Payload Processing Facility to begin ground processing by the Exploration Ground Systems and Jacobs teams. (Credits: NASA/Ben Smegelsky)

DENVER, March 1, 2021 (Lockheed Martin PR) — Lockheed Martin (NYSE: LMT) and NEC Corporation (NEC; TSE: 6701) have signed a joint collaboration agreement to extend their partnership utilizing NEC’s System Invariant Analysis Technology (SIAT). The companies are also finalizing a licensing agreement with a multi-year option.

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