Private equity backed space firm Vector Launch announced that Lockheed Martin will purchase its GalacticSky-related assets, used for the development of tiny, high-tech satellites, for $4.25 million, after the company filed for bankruptcy on Friday.

That's according to a report from Reuters and several other news outlets.

In August, Vector, which was backed by Sequoia Capital, announced that in response to a significant change in financing, it was undertaking a pause of operations.

"A core team is evaluating options on completing the development of the company’s Vector-R small launch vehicle, while also supporting the Air Force and other government agencies
on programs such as the recent ASLON-45 award," the company said.

Vector complained that Sequoia Capital abruptly pulled financing from the company; but the private equity firm blamed Vector's "inability to achieve its proposed plans,” Reuters reports.