Virgin Galactic to go public in merger with investment company
Posted: Sat, Jul 13, 2019, 8:01 PM ET (0001 GMT)
Virgin Galactic announced a deal early Tuesday to merge with an investment company, raising several hundred million. Social Capital Hedosophia Holdings Corp. will take a 49 percent stake in Virgin Galactic in a deal that values the company at $1.5 billion. Social Capital Hedosophia is a so-called "special-purpose acquisition company" that is publicly traded and is established for the purpose of acquiring a privately held company. The deal would allow Virgin Galactic to become publicly traded as soon as later this year, as the company is finishing testing of its SpaceShipTwo suborbital vehicle. The deal would ensure the company has enough funding to get into commercial operations.
Virgin Galactic announced a deal early Tuesday to merge with an investment company, raising several hundred million. Social Capital Hedosophia Holdings Corp. will take a 49 percent stake in Virgin Galactic in a deal that values the company at $1.5 billion. Social Capital Hedosophia is a so-called "special-purpose acquisition company" that is publicly traded and is established for the purpose of acquiring a privately held company. The deal would allow Virgin Galactic to become publicly traded as soon as later this year, as the company is finishing testing of its SpaceShipTwo suborbital vehicle. The deal would ensure the company has enough funding to get into commercial operations.
Related Links:
| <<previous article | next article>> |
|
news in brief
|
|
|
|
news links
|
|
Monday, March 3
Firefly Aerospace's Blue Ghost lander touches down on the moon
San Antonio Express-News — 6:38 am ET (1138 GMT) Firefly Aerospace's Blue Ghost lands on moon after 45-day trip
KTBC-TV Austin, TX — 6:37 am ET (1137 GMT) Texas makes history as Firefly Aerospace lands first successful private moon mission
KTRK-TV Houston — 6:36 am ET (1136 GMT) America Must Resource Its Spacepower Advantage
Air and Space Forces Magazine — 6:35 am ET (1135 GMT) Protesters rally against Elon Musk, DOGE at SpaceX headquarters in Hawthorne
Torrance (CA) Daily Breeze — 6:32 am ET (1132 GMT) |
