Monday, June 14, 2021

Virgin Orbit Plans To Go Public Via SPAC

Mojave-based Virgin Orbit, which is developing space launch technology which uses a modified 747 to send rockets into space, is planning to go public via a merger with a special purpose acquisition company (SPAC). According to UK publication Sky, Sir Richard Branson is in the midst of "advanced talks" to take Virgin Orbit public via a merger with NextGen Acquisition II. The deal would reportedly value Virgin Orbit at approximately $3 billion. Sky cited "sources" near to the company, which has not announced any details of the deal. Sir Richard Branson took one of his other space ventures, space tourism company Virgin Galactic, public in 2019.

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