Posted: Sat, Jun 24, 2023, 10:38 AM ET (1438 GMT)
Firefly Aerospace will buy the remaining assets of Virgin Orbit not previously sold in a bankruptcy auction. In court filings last week, the companies said that Firefly will buy the inventory, such as raw materials and parts for Virgin Orbit's LauncherOne rocket, that had been in two of Virgin's Long Beach, California, facilities for $3.8 million. Those items were not sold in an auction last month where the rest of Virgin Orbit's assets, ranging from its Boeing 747 aircraft to facilities and equipment, were bought by four other companies. Firefly said it bought the items to get savings on commonly used components and reduce supply chain uncertainty, and that it planned to resell some of the inventory to others.

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