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Shares of SatixFy Communications (NYS: SATX) plunged by $4.94 (68.3 percent) to $2.29 on Tuesday following the announcement that the Israeli satellite communications equipment manufacturer is looking to sell up to 28.4 million shares and $1 million in redeemable warrants.(more…)
COLUMBIA, Md. (BigBear.ai PR) – BigBear.ai, a leading provider of artificial intelligence, machine learning, cloud-based big data analytics, and cyber engineering solutions, announced today that it has entered into a landmark software agreement with Terran Orbital, a global leader and pioneer in the development, innovation and operation of small satellites and earth observation solutions. BigBear.ai’s AI-powered insights will enhance Terran Orbital’s manufacturing, operations, and multi-source Earth imaging offering for U.S. government, international defense and commercial clients.
The commercial agreement represents a long-term partnership between BigBear.ai and Terran Orbital. Together, BigBear.ai and Terran Orbital plan to pioneer AI solutions with the use of new data collected from Terran Orbital’s planned NextGen Earth Observation constellation and BigBear.ai’s existing data analytics platform. Terran Orbital and BigBear.ai are working to revolutionize AI using insights gleaned from the New Space ecosystem.(more…)
- $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.(more…)