All verified mentions of this organization in source documents.
Virgin Orbit reported a net loss of $191,100,000 in 2022, compared to net losses of $157,300,000 in 2021 and $121,700,000 in 2020.
Virgin Orbit completed an investigation into the failure of its LauncherOne mission on 2023-01-09 and disclosed the completion on 2023-04-19.
Virgin Orbit recorded $33,100,000 in revenue in 2022, up from $7,400,000 in 2021, according to its SEC filing.
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.
Virgin Orbit has not disclosed the customer contracted for the planned launch before the end of 2023.
Virgin Orbit worked with Goldman Sachs in early 2022 to either raise capital or pursue a sale of the company.
Virgin Orbit provided a bidding schedule that would solicit bids in 2023-05-05 and conclude with an auction on 2023-05-18.
Nasdaq informed Virgin Orbit that trading of its shares would be suspended effective at the opening of business on 2023-04-13 as part of the delisting process due to the Chapter 11 filing and lack of a Form 10-K filing with the SEC.
Virgin Orbit received $67,800,000 in SPAC proceeds versus a potential total of $382,000,000 from the SPAC transaction.
Texas investor Matthew Brown publicly planned to buy Virgin Orbit in late March 2023 but that potential deal fell through reportedly due to concerns about his ability to follow through on a transaction of up to $200,000,000.
Virgin Orbit is working with Ducera Partners LLC to market the company and its assets in the Chapter 11 process.
Virgin Orbit filed a motion in federal bankruptcy court in Delaware on 2023-04-07 proposing an expedited sale of the company or its assets to conclude before the 2023-05-31.
Virgin Orbit completed a SPAC merger at the end of 2021 that yielded substantially less cash than expected after many SPAC shareholders redeemed their stock.
Virgin Orbit secured $31,600,000 (€29.9 million) in Debtor-in-Possession financing from the U.S. Bankruptcy Court in Delaware.
Virgin Orbit secured $31,600,000 in debtor-in-possession financing from Virgin Investments Limited (VIL).
Virgin Investments Limited provided $60,000,000 in loans to Virgin Orbit between November 2022 and February 2023.
Virgin Orbit laid off about 85% of its approximately 800-person workforce on 2023-03-30.
Virgin Orbit conducted one additional LauncherOne launch in 2021 and two LauncherOne launches in 2022 prior to the January 2023 failure.
Virgin Orbit anticipated that its Form 10-K would disclose that the company generated $33,100,000 in revenue in 2022 and recorded a $191,200,000 net loss for 2022.
Virgin Orbit had $51,200,000 in cash and cash equivalents on hand at the end of 2022.