Lockheed Martin Ups Stake in Terran Orbital to 21.7%

TL;DR

LM holds 21.7% of TO, filing shows.

AI Summary

Lockheed Martin Corp. has amended its Schedule 13D filing regarding Terran Orbital Corporation. As of May 2, 2024, Lockheed Martin reported beneficial ownership of 45,000,000 shares of Terran Orbital common stock, representing approximately 21.7% of the outstanding shares. This filing indicates a significant stake held by Lockheed Martin in the space technology company.

Why It Matters

This filing signals Lockheed Martin's continued strategic interest and significant investment in Terran Orbital, potentially impacting future collaborations and market dynamics in the space sector.

Risk Assessment

Risk Level: medium — The filing indicates a substantial ownership stake, which could imply strategic intentions or influence over Terran Orbital's operations, carrying inherent risks for investors.

Key Numbers

• 45,000,000 — Shares Owned (Lockheed Martin's beneficial ownership in Terran Orbital.)
• 21.7% — Ownership Percentage (Represents Lockheed Martin's stake in Terran Orbital as of May 2, 2024.)

Key Players & Entities

• Lockheed Martin Corp. (company) — Filing entity
• Terran Orbital Corporation (company) — Subject company
• John E. Stevens (person) — Contact person for Lockheed Martin
• 45,000,000 (dollar_amount) — Number of shares owned
• 21.7% (dollar_amount) — Percentage of shares owned

FAQ

Key Financial Figures

• $0.0001 — me of Issuer) Common Stock, par value $0.0001 per share (Title of Class of Securitie
• $10.00 — e of warrants with an exercise price of $10.00 per share, (b) 17,253,279 shares of Com
• $2.898 — e of warrants with an exercise price of $2.898 per share and (c) 40,028,844 shares of
• $1.00 — ransaction, all of the Common Stock for $1.00 per share in cash. On April 30, 2024, L

Filing Documents

• lmtschedule13da-terranorbi.htm (SC 13D/A) — 138KB
• 0000936468-24-000056.txt ( ) — 139KB

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration. Item 3 of Schedule 13D is hereby supplemented and amended to add the information contained in the first paragraph of Item 4 of this Amendment, which is incorporated by reference into this Item 3.

Purpose of Transaction

Item 4. Purpose of Transaction.

of the Schedule 13D is hereby amended by adding the following

Item 4 of the Schedule 13D is hereby amended by adding the following On March 1, 2024, Lockheed Martin Corporation ("LMC") submitted a letter (the "Proposal") to the Issuer outlining a non-binding proposal for LMC to acquire, in a merger transaction, all of the Common Stock for $1.00 per share in cash. On April 30, 2024, LMC notified the Issuer that it was withdrawing the Proposal. The Reporting Persons intend to review their investment in the Issuer on a continuing basis and may from time to time and at any time in the future review or reconsider their position andor formulate plans or proposals with respect thereto depending on various factors, including, without limitation, the Issuer's financial condition, business operations and prospects, the market prices of the Common Stock, conditions in the securities markets generally, general economic and industry conditions, its business objectives and other relevant factors. Each of the Reporting Persons reserves the right to change its plans and intentions at any time, as it deems appropriate. In particular, the Reporting Persons (and their respective affiliates and Related Parties) reserve the right, in each case subject to any applicable law and any applicable agreement described above, to (i) purchase shares of Common Stock or other securities of the Issuer, (ii) sell or transfer the securities beneficially owned by them from time to time in public or private transactions, (iii) enter into privately negotiated derivative transactions with institutional counterparties to hedge the market risk of some or all of their positions in the securities of the Issuer and (iv) reconsider participating in a business combination transaction that would result in the acquisition of all of the Issuer's outstanding shares of Common Stock. Depending upon the foregoing factors and to the extent deemed advisable, any of the Reporting Persons or the Related Parties may, at any time and from time to time, formulate other purposes, pl

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer.

(a)—(c) of the Schedule 13D are each hereby amended and restated in their entirety as follows

Item 5(a)—(c) of the Schedule 13D are each hereby amended and restated in their entirety as follows (a) – (b) The information contained in rows 7, 8, 9, 10, 11 and 13 on each of the cover pages of this Amendment and in the footnotes thereto is incorporated herein by reference. None of the Related Parties beneficially own any shares of Common Stock. (c) The information in Item 4 of this Amendment is incorporated herein by reference. None of the Reporting Persons or the Related Parties have engaged in any transaction in shares of Common Stock in the 60 days prior to the filing of this Amendment. 7

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of its knowledge and belief, the undersigned hereby certify that the information set forth in this statement is true, complete and correct. Date May 2, 2024 Lockheed Martin Corporation By s H. Edward Paul III Name H. Edward Paul III Title Vice President and Controller Astrolink International LLC By s H. Edward Paul III Name H. Edward Paul III Title Vice President 8

View Full Filing

View this SC 13D/A filing on SEC EDGAR