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 gone public on Nasdaq (VORB) after completing its merger with special purpose acquisition company (SPAC) NextGen Acquisition Corp. II.
The merger is valued at approximately $3.2 billion, providing about $228 million in growth capital, supplemented by a $100 million investment from the Virgin Group.
Virgin Orbit utilizes a unique air-launch system, deploying its LauncherOne rocket from a customized Boeing 747, and has successfully launched 19 satellites since its inception.
The company plans multiple upcoming missions, including the "Above the Clouds" launch in January 2022, and is expanding its global partnerships and investing in diverse 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.”