Virgin Galactic completes merger
Posted: Sat, Oct 26, 2019, 4:48 PM ET (2048 GMT)
Virgin Galactic will become a publicly traded company next week as it completes a merger. Shareholders in Social Capital Hedosophia (SCH), a special-purpose acquisition company, approved its merger with Virgin Galactic Wednesday, allowing the deal to close today. SCH is currently publicly traded on the New York Stock Exchange, so shares of the merged company, under the new ticket symbol SPCE, will start trading Monday as Virgin Galactic. The companies announced the merger in July, a deal that will provide Virgin with more than $450 million in funding to complete its transition from development of SpaceShipTwo to commercial operations of the suborbital spaceplane.
Virgin Galactic will become a publicly traded company next week as it completes a merger. Shareholders in Social Capital Hedosophia (SCH), a special-purpose acquisition company, approved its merger with Virgin Galactic Wednesday, allowing the deal to close today. SCH is currently publicly traded on the New York Stock Exchange, so shares of the merged company, under the new ticket symbol SPCE, will start trading Monday as Virgin Galactic. The companies announced the merger in July, a deal that will provide Virgin with more than $450 million in funding to complete its transition from development of SpaceShipTwo to commercial operations of the suborbital spaceplane.
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