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.
All verified mentions of this organization in source documents.
The merger between Virgin Galactic and Social Capital Hedosophia values the combined company at $1,500,000,000 and gives Boeing a stake of a little more than 1% in Virgin Galactic.
Virgin Group committed to purchasing supersonic jets under development by Boom Supersonic with The Spaceship Company, a subsidiary of Virgin Galactic, working with Boom on aircraft design.
George Whitesides, chief executive of Virgin Galactic, supports partnering with Boeing to develop systems intended to change how people move around the planet and connect with one another.
The investor presentation cited the commercial aviation market as a $900,000,000,000 market opportunity for Virgin Galactic’s technologies.
SCH shareholders voted on 2019-09-09 to extend the deadline to close the Virgin Galactic deal by three months to 2019-12-18.
Virgin Galactic intends to merge with Social Capital Hedosophia (SCH), a publicly traded special-purpose acquisition company, in a deal that would value Virgin Galactic at $1,500,000,000 and provide an estimated $450,000,000 to fund operations and growth.
Virgin Galactic signed a contract on 2019-10-02 with the Italian Air Force to fly a set of research payloads and three people on a future SpaceShipTwo suborbital spaceflight.
Virgin Galactic has a framework agreement with Italian companies Altec and Sitael, working in cooperation with Italian government agencies, to establish SpaceShipTwo operations at the Taranto-Grottaglie Airport, and that agreement set no start date for flights.
Virgin Galactic practiced one of the two different routes planned for SpaceShipTwo flights during the 2019-08-15 flight.
Virgin Galactic announced the merger with Social Capital Hedosophia on 2019-07-09.
The Virgin Galactic–Social Capital Hedosophia deal will provide $800,000,000 in capital for Virgin Galactic and will allow the company to be publicly traded once the deal closes.
Virgin Galactic will merge with Social Capital Hedosophia, with Social Capital Hedosophia taking a 49 percent stake in the combined entity.
Chamath Palihapitiya, founder of Social Capital Hedosophia, is investing $100,000,000 of his personal funds into Virgin Galactic and will serve as chairman of the company.
Virgin Galactic merged on 2019-07-09 with Social Capital Hedosophia, a special purpose acquisition company, whereby SCH will take a 49 percent stake in the merged company.
Social Capital Hedosophia is contributing $708,000,000 to the Virgin Galactic merger.
Virgin Galactic reached an agreement on 2019-07-09 to merge with Social Capital Hedosophia that will raise several hundred million dollars and allow Virgin Galactic to become publicly traded.
Adam Bain will be lead independent director of the merged Virgin Galactic and has prior experience as chief operating officer of Twitter.
Richard Branson invested about $1,000,000,000 of his own money into Virgin Galactic.
The $1,500,000,000 valuation is a 5.5 multiple of Virgin Galactic’s projected EBITDA of about $270,000,000 for the period when commercial operations are expected to achieve scale.
Virgin Galactic expects to build up commercial operations rapidly and be profitable as soon as 2021 after receiving an $800,000,000 infusion from a merger with a public investment vehicle.