Virgin Galactic, founded by Richard Branson, is a British-American spaceflight company focused on providing suborbital spaceflights to space tourists and researchers. As the world's first commercial spaceline, it develops and operates its own reusable spaceflight systems, including the SpaceShipTwo and WhiteKnightTwo. While the company is shifting its focus to Delta class vehicles for commercial service in 2026, its current partners include Redwire for manufacturing research payload lockers and it operates from Spaceport America in New Mexico.
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Virgin Galactic’s stock closed 2020-02-13 at $23.66 per share.
The 2020-02-13 closing price of $23.66 per share was roughly double Virgin Galactic’s share price when it debuted on the exchange in October.
After VSS Unity’s February 2019 test flight, Virgin Galactic planned to outfit the spacecraft’s cabin for commercial flights and make other upgrades.
On 2020-01-08 Virgin Galactic reported that the next SpaceShipTwo vehicle achieved a milestone called "weight on wheels" where the vehicle supported itself solely using its landing gear.
In October 2019 Virgin Galactic projected that the move of VSS Unity to Spaceport America would take place in late 2019.
In the September 2019 investor presentation Virgin Galactic projected it could generate positive earnings by 2021 and grow to $274,000,000 in earnings by 2023 assuming commercial operations start in June 2020.
Virgin Galactic had a market capitalization of about $1,500,000,000 despite recent share-price declines.
Virgin Galactic’s stock closed on 2019-11-22 at $7.60 per share, a decline of about 35% from its opening price.
Virgin Galactic opened trading at $11.75 per share.
The merger with Social Capital Hedosophia provided Virgin Galactic with more than $430,000,000 in cash.
Virgin Galactic’s SpaceShipTwo suborbital spaceplane VSS Unity has performed five powered flights, including two that flew beyond the 50-mile boundary used by U.S. government agencies to award astronaut wings.
Finalists for Deal of the Year included SpaceX raising $1,000,000,000+, NASA’s Commercial Lunar Payload Services awards, OneWeb raising $1,000,000,000+, HawkEye 360’s $70,000,000 Series B, Virgin Galactic’s IPO, Relativity’s $140,000,000 round, the Raytheon-United Technologies merger, and the L3-Harris Corp. merger.
The merger provided Virgin Galactic with more than $450,000,000 in capital to fund its shift from development into operations.
The merger unlocked an investment agreement under which Boeing HorizonX Ventures will invest $20,000,000 in Virgin Galactic.
Virgin Galactic stock closed at $11.75 per share on 2019-10-28 on the New York Stock Exchange.
More than 3,700 people have expressed a desire to buy a ticket from Virgin Galactic since the company’s first flight to the edge of space in December 2018.
The merger will provide Virgin Galactic with $774,000,000 in total financing, of which about $320,000,000 will go to shareholders selling their stock and transaction fees and $452,000,000 will be cash added to Virgin Galactic’s balance sheet.
The merger clears the way for Boeing to make a $20,000,000 investment in Virgin Galactic that was announced on 2019-10-08.
Social Capital Hedosophia shareholders approved a merger with Virgin Galactic on 2019-10-23.
Boeing HorizonX Ventures will invest $20,000,000 in Virgin Galactic once Virgin Galactic’s merger with special-purpose acquisition company Social Capital Hedosophia closes, which is expected later this quarter.