Tailwind Two Acquisition Corp., a publicly traded special purpose acquisition company, announced that shareholders of record as of February 4, 2022 approved the previously announced business combination (the “Business Combination”) with Terran Orbital Corporation (“Terran Orbital”), a leading small satellite manufacturer primarily serving the United States aerospace and defense industry, supported by over 94% of the shares of Tailwind Two voted at the extraordinary general meeting of shareholders held on March 22, 2022. Approximately 72% of total outstanding shares voted.
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Ten proposals were considered and voted upon by Tailwind Two’s stockholders at the extraordinary general meeting, all of which were approved. The formal results of the vote will be included in a Current Report on Form 8-K to be filed by with the U.S. Securities and Exchange Commission by Tailwind Two.
Pursuant to the Business Combination, at the closing, Terran Orbital will combine with Tailwind Two and the combined company’s name will be Terran Orbital. Following the closing, Terran Orbital’s common stock and warrants are expected to trade on the New York Stock Exchange under the ticker symbols “LLAP” and “LLAP WS,” respectively. The business combination is expected to close on March 25, 2022.
Tailwind Two also announced today that it is permitting shareholders to withdraw their redemption requests until 3:00 p.m. Eastern Time, on March 24, 2022. Any shareholder wishing to withdraw a redemption request may do so by contacting Tailwind Two’s transfer agent, Continental Stock Transfer & Trust Company, at the following email address: proxy@continentalstock.com
“We look forward to completing the business combination and bringing Terran Orbital public to help the company meet increased demand from governments and corporations for small satellites in low earth orbit,” said Philip Krim, Chairman of Tailwind Two.
“We are very pleased to have completed this milestone in the go-public process and look forward to continuing to industrialize the small satellite industry as a public company, better serving our marquee government and private partners,” said Marc Bell, Co-Founder, Chairman, and CEO of Terran Orbital.
Tailwind Two is a blank check company “for founders, by founders” – formed for the purpose of effecting a merger, capital share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more founder-led businesses in a sector being disrupted by technological change. Tailwind Two’s management team and directors have invested extensively in founder-run businesses, with notable success in the space industry. Tailwind Two is led by Chairman Philip Krim, and Co-Chief Executive Officers Chris Hollod and Matt Eby. In addition to the members of its management team and board of directors, Tailwind Two has assembled an Advisory Board that will help position Tailwind Two as the value-add partner of choice for today’s leading entrepreneurs.