Terran Orbital shareholder group, including 3 Tyvak co-founders, calls for company overhaul or sale

by Peter B. de Selding

PARIS — A Terran Orbital investor group including the co-founders of small-satellite pioneer Tyvak Nano-Satellite Systems, now part of Terran, is calling for the company to replace chief executive Marc Bell, elect a new, more-independent board and weigh a possible acquisition or debt guarantee by Lockheed Martin.

The group on Oct. 12 sent a letter to Terran’s board saying the company’s performance — its stock has plunged and shareholder equity has been diluted with the need for fresh capital — is a result of . . .

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