Boca Raton, Florida, United States - 08-03-2022 (PR Distribution™) -
Terran Orbital Corporation, a small satellite manufacturer in the aerospace and defense industry, officially began trading on the New York Stock Exchange in late March 2022. Using the ticker symbol LLAP, the move comes after announcing a revenue backlog of over $200 million.
Planning for the move as a public company is nothing new. In the last few months leading up to going public, the company reached a few significant goals that made the move easier.
The company nearly tripled its revenue backlog in roughly half a year. They jumped from $68 million In September 2021 to more than $200 million. Getting the opportunity to take on new lucrative projects such as building satellites for the US Space Development Agency’s Tranche 1 of the Transport Layer helped them maintain solid growth.
This revenue and new opportunities have opened up the ability to expand facilities, triple the amount of employees, and more. One new plan is the space vehicle manufacturing facility in Florida which will be 660,000 ft2. They also leased a 60,000-square-foot commercial facility next to an existing facility in Irvine, California. This will allow for more projects and opportunities to take on bigger developments.
All this news came with the announcement of a newly formed Board of Directors. Co-founder and CEO Mark Bell joins a decorating group on the Board of Directors that includes Anthony Previte, Daniel Staton, James LaChance, Col. Tom Manion, Lt. Gen. Richard Y. Newton III, Dr. Tobi Petrocelli, Maj. Gen. Douglas L. Raaberg, and Stratton Sclavos. The company focused on having a blend of top-end talent to help reach loftier goals in the future.
Stratton Sclavos is an example of the experience that the members of the Board of Directors bring. Before being a board member at Terran Orbital Stratton Sclavos provided strategic advisory services to high technology startups. Stratton Sclavos has been recognized by the Silicon Valley Business Journal as the Entrepreneur of the Year, and later honored with the Ernst & Young Entrepreneur of the Year Award.
With the company going public, Terran Orbital seems to recognize the importance of a strong Board of Directors. They will be one of the main keys to ensuring that smart decisions happen during this huge growth opportunity. Every board member brings a unique perspective to the table to keep the momentum going.
To learn more about Terran Orbital, visit terranorbital.com. From news to investment opportunities, all announcements are posted on their website. A move like this will help the company stay competitive with everyone else in the industry.
Terran Orbital provides satellite solutions for military, civil, and commercial customers. Their turnkey satellite solutions cater to the growing satellite market. They also work on larger projects starting to take off, such as the NextGen Earth Observation Constellation, which will be the largest in the world when finished.
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