PRESS RELEASE: Relativity Space Moving into New Massive Long Beach Headquarters

Relativity Space Moving into Massive Long Beach HQ, Reconnecting with Area’s Aerospace Past

Employees with stock options at Relativity could be well positioned to capitalize on company’s stellar growth.

LONG BEACH, Calif. (July 6, 2022) – Relativity Space began moving into its massive factory headquarters in the freshly coined “Space Beach” over the summer, putting the city in the pilot’s seat of the private space industry and signaling a return of Southern California’s storied aerospace past.

The expansion of Relativity Space and its unique operations further adds to the impressive list of the areas already growing space industry that now include Virgin Orbit, Rocket Lab, SpinLaunch, and SpaceX.

The company launched a major expansion of its Long Beach operations last year by signing a 16-year lease for a 1.1 million square foot hanger for a new headquarters factory at Goodman Commerce Center. Relativity Space is advancing production at the new facility on its Terran R reusable rocket, which is entirely built with cutting-edge 3D printers. The new operation houses a laboratory, specialized printers, a mission control center, and more.

The headquarters has the capacity to employ over 2,000 workers. Relativity now employs more than 750 people across its locations in Cape Canaveral, Long Beach, Seattle, Stennis, Vandenberg, and Washington D.C.

As of the posting of this press release, Relativity Space has yet to send up a rocket, and it has already secured $1.2 billion worth in contracts for launches on the Terran R rocket. In June, the company signed a multi-launch deal with broadband satellite maker OneWeb with a plan to begin launching OneWeb satellites starting in 2025.

“What this means for Relativity employees is more than just a great reason to take some pride in their work. They should be putting work into securing their own futures now with some mindful financial planning”, said Derek Munchow, Managing Partner, Financial Planner, with Augustus Wealth, LLC in Manhattan Beach, California.

Munchow, a financial planner specializing in equity compensation for space and technology employees, has seen a lot of money left on the table because of poorly made decisions with their equity compensation. “Oftentimes it’s because they don’t know how to pay for their options or when they should exercise,” Munchow said.

“Employees should be thrilled about Relativity’s solid financials and their promising future, but too many startup employees with stock options delay planning or they have a follow-the-crowd mindset. When making decisions about their options, they all too often fail to plan or turn to their coworkers for guidance,” Munchow said. “Now’s the time for forethought and making informed decisions with the bigger picture in mind. Taking care of these things now, and thinking ahead, can make a big, big difference in the long run.”

Relativity Space is backed by investors including Blackrock, Fidelity, General Catalyst, K5 Global, Mark Cuban, Social Capital, Tiger Global, and 3L.