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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

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Congress

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Budget

Hegseth Pushes For Reconciliation With At Least $350 Billion For Defense ‘Regardless’ Of Midterms Outcome

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