"Our Core Satellite & Space index was up +6% in February, outperforming the S&P 500 which saw a gain of +5% and the MSCI Global (ex.-U.S.) index which saw a gain of +3%.
It was another slow month for M&A activity, with two transactions – equal to the average monthly space M&A volume now for six months now. Deal “talk” is fairly steady but this is not (yet?) translating into transactions.
Space financing activity was well above-trend in February, with 15 private VC/minority equity financings and three transactions in the public company arena.
In the public realm, Lynk Global announced a definitive agreement to merge with Slam Corp. (a SPAC).
Following month-end, Lockheed disclosed its non-binding offer to acquire Terran Orbital at $1.00/share. Terran Orbital adopted a poison pill days after receipt of the offer, and in connection with its ongoing review of strategic alternatives, Terran’s CEO stated that it is “looking at everything.”