All verified mentions of this organization in source documents.
Virgin Galactic projects a $104,000,000 loss in 2020, breaking even in 2021, and reaching $274,000,000 in earnings in 2023.
Social Capital Hedosophia is contributing $708,000,000 to the Virgin Galactic merger.
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 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.
Virgin Galactic projects performing 16 flights by the end of 2020 carrying 66 customers and producing $31,000,000 in revenue from those customers and other sources.
Of the $808,000,000 total contributed to the merger, $300,000,000 will be used to purchase shares from existing Virgin Galactic shareholders, $460,000,000 will be set aside for continued growth and commercialization, and $48,000,000 will be used for transaction fees.
Chamath Palihapitiya will become chairman of the merged Virgin Galactic and is contributing $100,000,000 of his own money into the deal.
Adam Bain will be lead independent director of the merged Virgin Galactic and has prior experience as chief operating officer of Twitter.
The $1,500,000,000 valuation of the merged company is 2.5 times Virgin Galactic’s projected 2023 revenue of $600,000,000.
Chamath Palihapitiya, founder and chief executive of Social Capital Hedosophia, will invest an additional $100,000,000 into Virgin Galactic.
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.
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.
Virgin Galactic finished building an oxidizer vessel at Spaceport America and is nearing completion of a gas farm and an antenna station for its facility.
Richard Branson plans to be on Virgin Galactic’s first commercial flight and seeks to start commercial flights 2019, perhaps as soon as July.
Virgin Galactic crew members Dave Mackay, Mike Masucci, and Beth Moses received commercial astronaut wings from the Federal Aviation Administration at a ceremony on 2019-04-09 at the Space Symposium in Colorado Springs.
The Spaceship Company designed and built the HTPB rubber/nitrous oxide-fueled hybrid rocket motor propulsion system used by Virgin Galactic’s SpaceShipTwo.
Virgin Galactic considers the 50-mile (80.5-kilometer) boundary to be the boundary of space even though it is below the 100-kilometer Karman Line used by other organizations.
Virgin Galactic postponed a scheduled 2019-02-20 test of SpaceShipTwo from Mojave Air and Space Port because of winds and planned to attempt the test again on 2019-02-22.
Virgin Galactic's SpaceShipTwo reached a peak altitude of 82.7 km on its 2018-12-13 test flight, its first above the 50-mile boundary used by U.S. government agencies to award astronaut wings.
During the 2019-02-20 test flight Virgin Galactic plans to intentionally offset VSS Unity’s center of gravity left and right to assess handling.