Terran Orbital to build 42 Satellites for Space Development
Agency's Tranche 1 Transport Layer which will support global
warfighter missions as part of a contract Lockheed Martin was
awarded by the Space Development Agency
Satellites will provide and support global communications
access and persistent regional encrypted connectivity enabling
warfighters across all areas of operation
BOCA RATON, Fla.,
March 15, 2022
/PRNewswire/ -- Terran Orbital Corporation ("Terran Orbital"), a
leading vertically integrated provider of end-to-end satellite
solutions, announced that its wholly owned subsidiary, Tyvak Nano
Satellite Systems, Inc., was awarded a contract by Lockheed Martin
to build 42 satellites for the Space Development Agency's Tranche 1
Transport Layer, the Initial Warfighting Capability Tranche of the
National Defense Space Architecture (NDSA).
"Terran Orbital is excited to build upon our Transport Layer
contracts with Lockheed Martin," said Marc
Bell, Co-Founder, Chairman and Chief Executive Officer of
Terran Orbital. "This contract for Tranche 1, along with our
previous contract for Tranche 0, not only affirms confidence in our
industry-leading spacecraft designs, but also validates our ability
to deliver game-changing capability in partnership with Lockheed
Martin. We are honored and very proud to participate in this
important award in support of U.S. military forces around the
world."
"Partners like Terran Orbital are critical to delivering
national defense space capabilities for the Space Development
Agency," says Lockheed Martin Space Protected Communications
Mission Area Leader Erik Daehler.
"We see our work with them as a prime example of how to work
hand-in-hand with our mission partners to build a strong
marketplace that enables us to quickly deliver."
The NDSA's operational utility depends on ubiquitous data and
communications from a constellation of relatively small,
mass-producible space vehicles in the Transport Layer of low Earth
orbit. Space vehicles in Tranche 1 of the Transport Layer will
be similar to those currently under development for Tranche 0 with
targeted technology enhancements, mission-focused payload
configurations, increased integration, and greater production
efficiencies. Tranche 1 will provide global communications access
and deliver persistent regional encrypted connectivity in support
of warfighter missions around the globe by serving as the backbone
for the Department of Defense's Joint All Domain Command and
Control built on low-latency data transport, sensor-to-shooter
connectivity, and direct-to-weapon connectivity.
On February 15, 2022 Terran
Orbital announced a record $170+ million in new contracts and
awards since September 30, 2021. That
record number is inclusive of today's announcement and the
announcement made by Terran Orbital on February 17, 2022 that it was awarded a contract
by Lockheed Martin Aeronautics to build and support three
microsatellite class satellites.
Terran Orbital has previously announced that it entered into a
business combination agreement with Tailwind Two Acquisition Corp.
(NYSE: TWNT), ("Tailwind Two"), a special purpose acquisition
company (SPAC), pursuant to which Terran Orbital will combine with
Tailwind Two.
About Tailwind Two Acquisition Corp.
Tailwind Two is a
blank check company "for founders, by founders" – formed for the
purpose of effecting a merger, capital share exchange, asset
acquisition, share purchase, reorganization, or similar business
combination with one or more founder-led businesses in a sector
being disrupted by technological change. Tailwind Two's management
team and directors have invested extensively in founder-run
businesses, with notable success in the space industry. Tailwind
Two is led by Chairman Philip Krim, and Co-Chief Executive
Officers Chris Hollod and Matt Eby. In addition to
the members of its management team and board of directors, Tailwind
Two has assembled an Advisory Board that will help position
Tailwind Two as the value-add partner of choice for today's leading
entrepreneurs.
About Terran Orbital
Terran Orbital Corporation is a leading vertically integrated
provider of end-to-end satellite solutions. Terran Orbital combines
satellite design, production, launch planning, mission operations
and in-orbit support to meet the needs of the most demanding
military, civil and commercial customers. In addition, Terran
Orbital is developing one of the largest, most advanced NextGen
Earth Observation constellations to provide persistent, real-time
earth imagery. Learn more at www.terranorbital.com.
Important Information and Where to Find It
In connection with the proposed business combination with Terran
Orbital, Tailwind Two filed with the U.S. Securities and Exchange
Commission (the "SEC") a registration statement on Form S-4 (as
amended or supplemented through the date hereof, the "Registration
Statement") containing a definitive proxy statement/prospectus (the
"Proxy Statement/Prospectus"). The Registration Statement has been
declared effective by the SEC and has been mailed to Tailwind Two's
shareholders. This press release does not contain all the
information that should be considered concerning the potential
transaction and is not intended to form the basis of any investment
decision or any other decision in respect of the potential
transaction. Tailwind Two's shareholders and other interested
persons are advised to read the Proxy Statement/Prospectus and
other documents filed in connection with the potential transaction,
as these materials will contain important information about Terran
Orbital, Tailwind Two and the potential transaction. Shareholders
will also be able to obtain copies of the Proxy
Statement/Prospectus and other documents filed with the SEC,
without charge at the SEC's website sec.gov.
Participants in the Solicitation
Tailwind Two and its directors and executive officers may be deemed
participants in the solicitation of proxies from Tailwind Two's
shareholders with respect to the potential transaction. A list of
the names of those directors and executive officers and a
description of their interests in Tailwind Two is contained in
Tailwind Two's final prospectus relating to its initial public
offering dated March 8, 2021, which was filed with the SEC and
is available free of charge at the SEC's web site
at www.sec.gov. Additional information regarding the interests
of such participants is contained in the Proxy
Statement/Prospectus. Terran Orbital and its directors and
executive officers may also be deemed to be participants in the
solicitation of proxies from Tailwind Two's shareholders in
connection with the potential transaction. A list of the names of
such directors and executive officers and information regarding
their interests in the potential transaction are included in the
Proxy Statement/Prospectus.
Non-Solicitation
This press release and any oral statements made in connection with
this press release shall not constitute an offer, nor a
solicitation of an offer, of the sale or purchase of any
securities, nor shall any securities of Terran Orbital or Tailwind
Two be offered or sold, in any jurisdiction in which such an offer,
solicitation or sale would be unlawful. Neither the SEC nor any
state securities commission has approved or disapproved of the
transactions contemplated hereby or determined if this press
release is truthful or complete. Any representation to the contrary
is a criminal offense. Nothing in this press release constitutes
investment, tax or legal advice or a recommendation regarding any
securities. You should consult your own counsel and tax and
financial advisors as to legal and related matters concerning the
matters described herein, and you must make your own decisions and
perform your own independent investment and analysis of the
potential transactions.
Special Note Regarding Forward-Looking Statements
This
press release includes certain forward-looking statements,
estimates, and projections provided by Terran Orbital that reflect
management's views regarding the anticipated future financial and
operating performance of Terran Orbital. Forward-looking statements
are statements that are not historical, including statements
regarding operational and financial plans, terms and performance of
Terran Orbital and other projections or predictions of the future.
Forward looking statements are typically identified by such words
as "project," "believe," "expect," "anticipate," "intend,"
"estimate," "may," "will," "should," and "could" and similar
expressions. Such statements, estimates, and projections reflect
numerous assumptions concerning anticipated results.
Forward-looking statements in this press release may include, for
example; statements about Terran Orbital's industry and market
sizes; future opportunities; expectations and projections
concerning future financial and operational performance and results
of Terran Orbital; and the potential transactions, including items
such as the implied enterprise value, ownership structure, the
amount of redemption requests made by Tailwind Two's shareholders,
the ability of Tailwind Two to issue equity or equity-linked
instruments in connection with the potential transactions or in the
future, the likelihood and ability of the parties to successfully
consummate the potential transactions, and those factors set forth
in the section entitled "Risk Factors" and "Cautionary Note
Regarding Forward-Looking Statements; Market Ranking and Other
Industry Data" in the Proxy Statement/Prospectus. As these
assumptions may or may not prove to be correct and there are
numerous factors which will affect Terran Orbital's actual results
(many of which are beyond Terran Orbital's control), there can be
no assurances that any projected results are attainable or will be
realized. Terran Orbital and Tailwind Two disclaim any intention or
obligation to update or revise any forward-looking statements
whether as a result of new information, future events, or
otherwise, except as required by law. Terran Orbital's actual
results may differ materially from those set forth in this press
release. Accordingly, no representations are made as to the
accuracy, reasonableness or completeness of such statements,
estimates, or projections.
CONTACTS:
pr@terranorbital.com
949-508-6404
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SOURCE Terran Orbital
