Satellite Maker Terran Orbital Strikes $1.58 Billion SPAC Deal

Satellite maker Terran Orbital Corp. is merging with a special-purpose acquisition company to go public at a $1.58 billion valuation, the companies said, the latest in a string of space-related companies to list through a SPAC.

Florida-based Terran designs and builds satellites for customers including the National Aeronautics and Space Administration, the U.S. Defense Department and EchoStar Corp. , a provider of satellite and internet communication services.