PARIS — Ongoing concern about how small satellite builder Terran Orbital will raise the cash it needs to fund its business plan for the coming 12 months coupled with worries about the financial backing of its largest customer, Rivada Space Networks, caused Terran’s stock to drop nearly 18% on May 15 following the company’s investor call.
At its current spending rate, Terran has less than five months’ cash left. It is expanding its satellite production capacity in Irvine, California, to meet current and expected contracts from constellation operators . . .
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