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 has officially become a publicly traded company on the Nasdaq as "VORB" after its merger with the SPAC NextGen Acquisition Corp. II was approved by shareholders.
The merger, valued at approximately $3.2 billion, generated about $228 million in proceeds for growth, falling short of original projections, with Virgin Group committing additional investment.
Virgin Orbit utilizes a unique air-launch system involving a modified Boeing 747 aircraft to deploy its LauncherOne rockets and plans multiple missions for January 2022, alongside international collaborations and investments in various space solutions.

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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.”