Tuesday, July 9, 2019

Virgin Galactic Plans To Go Public Via Reverse Acquisition Deal

Virgin Galactic, the space tourism venture led by Richard Branson which recently shifted its headquarters to Las Cruces, New Mexico, is looking to go public via a merger with a special purpose acquisition company (SPAC), called Social Capital Hedosophia Holdings Corp.. Social Capital Hedosophia Holdings will invest roughly $800M in Virgin Galactic for a 49 percent stake in the company, and create what will be the first, publicly traded space tourism company.