Virgin Group, founded by Richard Branson, has a presence in the space industry through its ventures like Virgin Galactic and, formerly, Virgin Orbit. Virgin Galactic is a British-American spaceflight company that aims to provide suborbital spaceflights to space tourists and conduct scientific research, using its SpaceShipTwo spaceplane. The company's commercial space tourism flights have carried dozens of people to the edge of space.
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The remaining $160,000,000 of the $228,000,000 gross proceeds will come from the PIPE, which includes the original $100,000,000 plus additional investment from the Virgin Group and Mubadala Investment Company.
The Virgin Group agreed to invest up to $100,000,000 as an additional PIPE in the Virgin Orbit–NextGen merger.
Virgin Galactic and Virgin Orbit are separate entities within the Virgin Group.
Hughes Network Systems invested $50,000,000 in OneWeb in 2015 alongside Airbus Group, Bharti Enterprises, Coca-Cola, Intelsat, Qualcomm, Totalplay, and the Virgin Group as part of OneWeb’s $500,000,000 Series A round.
Virgin Group is selling stock to support its portfolio of global leisure, holiday, and travel businesses that have been affected by the impact of COVID-19.
The revised S-1 filing to sell some of Virgin Group’s shares caused Virgin Galactic’s stock to drop significantly in early trading on the New York Stock Exchange on 2020-05-11 and the stock closed down nearly 4% that day.
Vieco 10, the Virgin Group holding company that owns the majority of Virgin Galactic, planned to sell up to 25 million shares, representing about 22% of its overall stake 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.
OneWeb received an initial $500,000,000 in 2015 from Airbus, Hughes Network Systems, Intelsat, Qualcomm, Virgin Group, Coca-Cola, Grupo Salinas, and Bharti Airtel.
Virgin Group had an agreement with the Public Investment Fund of Saudi Arabia in October 2017 that would have resulted in a $1,000,000,000 investment in Virgin’s space companies, and Richard Branson later terminated that deal in reaction to the murder of Jamal Khashoggi.
Virgin Group announced a non-binding memorandum of understanding nearly a year ago with the Public Investment Fund of Saudi Arabia for a $1,000,000,000 investment that would be allocated to Virgin Galactic, The Spaceship Company, and Virgin Orbit.
Virgin Group securing a $1,000,000,000 Saudi investment was a finalist for Deal of the Year in 2017.