All verified mentions of this organization in source documents.
Virgin Orbit filed for Chapter 11 bankruptcy in the United States on 2023-04-04.
Ducera Partners LLC was retained to help market Virgin Orbit’s assets and reached out to 204 potential bidders.
The U.K. government has no plans to acquire Virgin Orbit as part of a sovereign effort to develop a U.K. launch capability.
If Virgin Orbit receives more than one qualified bid it will hold an auction on 2023-05-22 and a bankruptcy-court hearing on the winning bid on 2023-05-24.
Virgin Orbit filed a stalking-horse bid agreement with Stratolaunch on 2023-05-16 under which Stratolaunch would buy Virgin Orbit’s Boeing 747 aircraft and related equipment for $17,000,000.
The U.S. Securities and Exchange Commission launched a fact-finding inquiry into Arqit's 2021 SPAC merger, which Virgin Orbit had also invested in.
Before deciding to sell its partially built quantum encryption satellite, Arqit had lined up a 2024 launch with Virgin Orbit.
As of 2023-05-17, Arqit is the largest unsecured creditor identified to date in Virgin Orbit’s Chapter 11 bankruptcy process with a $10,000,000 claim.
On 2023-04-19, Virgin Orbit completed an investigation that confirmed a dislodged fuel filter caused a premature shutdown of the LauncherOne upper stage engine in the January mission.
Virgin Orbit postponed the bankruptcy auction from 2023-05-18 to 2023-05-22 if more than one qualified bid is received.
Virgin Orbit filed a 2023-05-12 document in the U.S. Bankruptcy Court for the District of Delaware extending the final bid deadline from 2023-05-15 to 2023-05-19.
Virgin Orbit reported receiving more than 30 indications of interest by 2023-05-09.
Virgin Orbit’s next LauncherOne launch could take place later 2023.
The U.S. Bankruptcy Court approved Virgin Orbit’s bankruptcy sale plan on 2023-05-01.
Virgin Orbit received $60,000,000 in loans from Richard Branson since November and has largely ceased operations, laid off most employees, and filed for bankruptcy.
The U.S. Bankruptcy Court for the District of Delaware approved bidding procedures for the sale of Virgin Orbit’s assets on 2023-05-01.
The bankruptcy court approved a final order for debtor-in-possession financing that provides Virgin Orbit with up to $74,100,000 in loans to continue operating at a reduced level during Chapter 11.
An auction for Virgin Orbit assets will take place on 2023-05-18 if more than one qualified bid is received.
Virgin Orbit indicated in a Securities and Exchange Commission filing on 2023-04-17 that it would continue reduced-rate operations during Chapter 11.
Virgin Orbit stated that if Chapter 11 restructuring is allowed, it would seek to conduct its next launch before the end of 2023 with a customer that is currently on contract for that launch.