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Wed, Aug 25, 2021

Virgin Orbit Becoming A Publicly Traded Company

Enters Business Combination With NextGen

Virgin Orbit revealed that they have entered into a definitive merger agreement under which they will become a publicly-traded company.

Upon closing, the transaction is expected to provide the combined company up to $483 million in cash proceeds. Existing Virgin Orbit shareholders will roll 100% of their equity into the combined company. Virgin Orbit’s highly differentiated air launch technology enables satellite launches at any time, from any place, and to any orbit.

Sir Richard Branson, the Founder of Virgin Orbit, said “The Virgin Orbit team has proven its ability to create new ideas, new approaches, and new capabilities. They are building on the incredible foundation of their rapid transition into successful commercial launch operations to find new ways to solve big problems that uplift our customers’ amazing ideas, again and again,” he says.

“I’m very excited we are taking Virgin Orbit public, with the support of our partners at NextGen and our other wonderful investors. It’s another milestone for empowering all of those working today to build space technology that will positively change the world.”

George Mattson and Greg Summe, the Co-Founders of NextGen, said “We are delighted that our search for a great company, with strong organic growth in a large and growing market, disruptive technology and a world class management team has led to our partnership with Virgin Orbit. The space economy is developing rapidly and Virgin Orbit is well positioned to benefit through its ability to competitively launch at any time, from any place on Earth, to any orbit and inclination.”

FWI: www.sec.gov, www.virginorbit.com

 


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