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Terran Orbital Receives Another Listing Notice for Stock Price

By Rachel Jewett | June 24, 2024

      Terran Orbital facility in Irvine, California. Photo: Terran Orbital

      Terran Orbital must raise its share price again to maintain its listing on the New York Stock Exchange. The company said in a news release on Friday that it received notice from the NYSE that it is not in compliance with NYSE rules after its stock has traded below $1 per share for a month. 

      The satellite manufacturer received a similar notice last year and was able to raise its stock price to remain listed

      Terran Orbital said it intends to return to compliance to remain listed during a six-month cure period. Its stock will still remain listed during this period. 

      The release said Terran Orbital “is considering all available options to regain compliance with the NYSE’s continued listing standards, including, but not limited to, a reverse stock split, subject to stockholder approval.”

      Terran Orbital is undergoing a strategic review to maximize shareholder value. Earlier this year Lockheed Martin placed and then withdrew a bid to acquire the company