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LLAP INVESTOR ALERT: Edelson Lechtzin LLP Urges Terran Orbital Corporation (NYSE: LLAP) Shareholders with Substantial Losses to Consult Legal Counsel About the Pending Securities Fraud Class Action

NEWTOWN, PA, October 7, 2024 — Edelson Lechtzin LLP, a top ranked class action law firm, announces the filing of a securities fraud class action on behalf of all investors of Terran Orbital Corporation (NYSE: LLAP) between August 15, 2023, and August 14, 2024, inclusive (the “Class Period”).

Investors who purchased Terran stock during the Class Period may move the U.S. District Court for the Southern District of Flordia to appoint them as lead plaintiff, no later than November 26, 2024. Please contact Edelson Lechtzin LLP to discuss your investment losses at 844-696-7492, or by e-mail at [email protected].

Background Terran Orbital Corporation

Terran, based in Boca Raton, Florida, manufactures and sells satellites for the aerospace and defense industries in the U.S. and abroad.

The Securities Fraud Claims

Throughout the Class Period, the Complaint alleges that Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, Terran failed to disclose to investors that: (i) it would take much longer than Terran had represented to investors and analysts to convert its contracts with its customers (collectively, “Customer Contracts”) into revenue and free cash flow; (ii) Terran did not have adequate liquidity to operate its business while waiting for the Customer Contracts to generate revenue and free cash flow; and (iii) Terran had concealed the true scope and severity of its dire financial situation.

In February 2023, Terran announced that its subsidiary, Tyvak Nano-Satellite Systems, Inc., had secured a $2.4 billion contract from Rivada Space Networks GmbH to build 300 satellites. Defendants assured investors that Terran would quickly turn this contract into revenue and free cash flow. On March 1, 2024, Lockheed offered to buy all Terran’s outstanding common stock for $1.00 per share in cash. However, on May 2, 2024, Lockheed revealed in an SEC filing that it had withdrawn the buyout offer. On this news, the price of Terran’s stock fell $0.22 per share, or 17.05%, to close at $1.07 per share on May 3, 2024.

On August 12, 2024, Terran filed its Q2 2024 report with the SEC, revealing $14.6 million in cash, approximately $300 million in debt as of June 30, 2024, and a reduction of the total backlog from $2.7 billion to $312.7 million by removing the Rivada Contract. On this news, Terran’s stock price fell $0.06 per share, or 8.45%, to close at $0.65 on August 12, 2024.

On August 15, 2024, Terran and Lockheed announced that Lockheed would acquire Terran for $0.25 per share in cash, which was lower than both the previous day’s closing stock price of $0.40 per share and Lockheed’s initial buyout offer of $1.00 per share. On this news, Terran’s stock price fell $0.157 per share, or 39.25%, to close at $0.243 on August 15, 2024.

For more information, please contact:

Marc H. Edelson, Esq.

Eric Lechtzin, Esq.

EDELSON LECHTZIN LLP

411 S. State Street, Suite N-300

Newtown, PA 18940

Phone: 844-696-7492 or 215-867-2399 ext. 1

Email: [email protected]

Email: [email protected]

Web:   www.edelson-law.com

Edelson Lechtzin LLP is a leading class action law firm with offices in Pennsylvania and California. In addition to cases involving securities and investment fraud, our lawyers focus on class and collective litigation in cases alleging violations of the federal antitrust laws, employee benefit plans under ERISA, wage theft and unpaid overtime, consumer fraud, and dangerous and defective drugs and medical devices.

This press release may be considered Attorney Advertising in some jurisdictions. No class has been certified in this case, so you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. Your ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

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