- Terran Orbital Corporation (NYSE:LLAP) said it has entered into a definitive securities purchase agreement for the purchase and sale of 29 million shares and warrants to buy 29 million shares at a combined purchase price of $1.28 per share.
- The warrants will have an exercise price of $1.43 per share, will be exercisable commencing six months following issuance, and will have a term of exercise equal to five years following the initial exercise date.
- The gross proceeds to the company from the offering are expected to be approximately $37.1 million.
- Terran Orbital intends to use the net proceeds for general corporate purposes, including capital expenditures, working capital, research and development.
- The closing of the offering is expected to occur on or about May 30, 2023.
- Price Action: LLAP shares are trading lower by 7.71% at $1.32 on the last check Thursday.
Stifel Initiates Coverage On DraftKings with Hold Rating, Announces Price Target of $15
Stifel analyst Jeffrey Stantial initiates coverage on DraftKings (NASDAQ:DKNG) with a Hold rating and announces Price Target of $15.
