Virgin Orbit Satellite Launch Company Set to Go Public

Sir Richard Branson’s Virgin Orbit, a satellite launch and services company, will officially become a publicly traded company following its merger with NextGen Acquisition Corp. II (NASDAQ: NGCA).

Michael Wildes

Tuesday, December 28, 2021 at 05:59 PM ET

Verified

Virgin Orbit's carrier aircraft Cosmic Girl as seen in-flight during the company's cryogenic captive carry flight. [Courtesy: Virgin Orbit/Greg Robinson]

Key Takeaways:

Sir Richard Branson’s Virgin Orbit officially became a publicly traded company on Nasdaq under the ticker “VORB” after its merger with special purpose acquisition company (SPAC) NextGen Acquisition Corp. II was approved by shareholders.
The merger, valued at approximately $3.2 billion, yielded about $228 million in capital (less than initially projected) which will be used to scale rocket manufacturing, expand its space solutions business, and support global growth.
Virgin Orbit utilizes a unique air-launch system with a customized Boeing 747 ("Cosmic Girl") deploying its "LauncherOne" rocket, and plans three new customer launches in January 2022 while also diversifying into space solutions and forming international partnerships.

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Sir Richard Branson’s Virgin Orbit, a satellite launch and services company, will officially become a publicly traded company following its merger with special purpose acquisition company (SPAC) NextGen Acquisition Corp. II (NASDAQ: NGCA).

The merger, which was approved by NextGen’s shareholders in a proxy vote Tuesday, allows Virgin Orbit to be listed on the Nasdaq stock exchange as “VORB.”