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In a separate email simply entitle “ WSJ , ” which was sent to all faculty , Bell say the WSJ got the story “ very wrong ” and “ we are work with them to correct . ”
“ My goal is to keep us independent and turn us into a Prime . Nothing has change . ”
He also had some incendiary words for the chemical group of investors , which collectively represents around 8 % of Terran shares , who are leading a charge to have Bell replaced and the board reconstitute :
“ As for shareholder unfavorable judgment the whole matter is a joke , ” he says in the email . “ block that the display panel and direction has over 30 million share ( they have 16 million ) but we have polled investor casually and over 100 million shares say they approve of the direction we are take and fully support us . We also have 100 % support of the board . The company recently sued one of the Sophis cretin and we will be sue them all in due path . They will eventually go away . ”
The terminal two demarcation bear on to the investor group , led by Sophis Investments , anda late case Terran lend against Austin Williams(its former CTO ) and one of the founders of Tyvak Nano - Satellite Systems , the company that now makes up the majority of Terran ’s business .
“ We are not looking for a buyer , ” Bell said , according to sources who were at the meeting . rather , he told faculty that if the table ( which he chairs ) decided on a take - secret deal , Bell and a business partner would buy the company themselves .
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Bell did say that the company is looking for strategical investor , similar to Lockheed Martin — a hefty investor in the company and a primary client .
Terran Orbital did not answer to TechCrunch ’s petition for comment . TechCrunch will update the article if Terran Orbital responds .
His statement contradict a regulatory filing posted Monday by Terran Orbital . Inthat filing , the company confirm that it was hire in a “ formal reassessment of strategic alternatives to maximize shareholder value , ” a operation that could include sale of the company , among other outcomes .
The news caused Terran ’s breed price to crater , with the value per portion falling around 25 % — from $ 1.03 at yesterday ’s close to around $ 0.77 as of publication . The company ’s share have been teetering below a dollar almost systematically from the end of August ; the company face the looming menace of delisting if it is unable to farm its stock monetary value .
It ’s a precipitous drop for the troupe , which was trading at $ 10.96 after going public in March of last class .
