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Business/Financial

Virgin Orbit To Go Public in SPAC Deal at $3.2 Billion Valuation

By Rachel Jewett

Monday, August 23rd, 2021

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Virgin Orbit To Go Public in SPAC Deal at $3.2 Billion Valuation

Virgin Orbit LauncherOne and Cosmic Girl. Photo: Virgin Orbit

Virgin Orbit is taking a special purpose acquisition company (SPAC) merger to go public in a deal that values the company at $3.2 billion. The launcher announced Monday that parent company Vieco USA, Inc. will combine with SPAC NextGen Acquisition Corp. II. The merger is expected to provide $483 million in proceeds. This includes a $100 million PIPE backed by Boeing [BA] and AE Industrial Partners, in addition to existing Virgin Orbit investors and NextGen. The transaction is expected to close at the end of…

Congress

HASC Bill Would Allow Air Force To Buy More Than 267 F-15EXs

The House Armed Services Committee’s (HASC) fiscal 2027 defense authorization bill would allow the Air Force to buy more than 267 F-15EX fighters by Boeing [BA] and would extend the […]

Budget

Defense Bill Tries To Block Foreign Shipbuilding, Adds $1 Billion For Second DDG

The final version of the House Armed Services Committee’s (HASC) fiscal year 2027 defense authorization bill included two amendments pushed by Rep. Jared Golden (D-Maine) that restrict procuring Navy warships […]

Congress

Replacement Munitions May Not Be One-for-One; May Include New Weapons Chemistries, Wittman Says

As the Pentagon looks to refill inventories of weapons used in Iran and elsewhere, replacements may not be one for one but instead mark a new portfolio mix, according to […]

Congress

HASC Approves $1.15 Trillion FY ‘27 NDAA With ‘Right To Repair’ Reform

The House Armed Services Committee (HASC) has approved its $1.15 trillion version of the fiscal year 2027 National Defense Authorization Act (NDAA), with the panel moving to adopt a bipartisan […]