Branson’s Virgin Orbit to Go Public Through $3.2 Billion SPAC Merger

Branson’s Virgin Orbit to Go Public Through $3.2 Billion SPAC Merger
The Virgin Orbit Launcher One rocket is displayed at Spaceport Cornwall in Newquay, England, on Aug 2, 2021. Hugh Hastings/Getty Images
Reuters
Updated:

Billionaire Richard Branson’s Virgin Orbit, a small satellite launch service provider, is going public through a merger with a blank-check vehicle that values it at about $3.2 billion.

The deal with NextGen Acquisition Corp. II, announced on Monday, includes $100 million in funding from Boeing Co, AE Industrial Partners, and others in the form of private investment in public equity, or PIPE.