![]() George Mattson and Greg Summe, the co-founders of NextGen, added… It’s another milestone for empowering all of those working today to build space technology that will positively change the world. I’m very excited we are taking Virgin Orbit public, with the support of our partners at NextGen and our other wonderful investors. They are building on the incredible foundation of their rapid transition into successful commercial launch operations to find new ways to solve big problems that uplift our customers’ amazing ideas, again and again. The Virgin Orbit team has proven its ability to create new ideas, new approaches, and new capabilities. The founder of Virgin Orbit, Richard Branson, commented… In this case, Virgin Orbit is combining with SPAC NextGen Acquisition Corp. ![]() The companies use funds raised by their sponsors and investors to acquire other companies. It lists on major exchanges where investors can buy shares. It is a shell company with no active business operations. ![]() Virgin Orbit SPAC IPOĪ SPAC is also referred to as a blank-check company. But investors interested in the Virgin Orbit IPO should know that the company didn’t choose to go public through a traditional IPO. Going public can help give a company funds to help facilitate growth. Proceeds from the business combination and PIPE transaction are expected to provide growth capital to further scale rocket manufacturing to meet customer demand and to fund growth in space solutions business and Virgin Orbit’s ongoing product development initiatives. Let’s see how the Virgin Orbit IPO could help fund growth initiatives… Plans for Growth In a press release, the company stated that the successful demonstration will allow the company to transition into commercial service for its next mission. Virgin Orbit’s launch demonstrated that affordable access to space is possible, according to the company. Once the plane reached a 35,000-foot altitude, the booster released, fired up its own engine and ascended to orbit. The plane flew out to a launch site 50 miles south of California’s Channel Islands. The company modified a Boeing 747-400 to launch a rocket into space. In January, Virgin Orbit successfully reached orbit during its second test flight with its LauncherOne system. The company’s customer base also includes commercial customers like Swarm Technologies, Italy’s Sitael and Denmark’s GomSpace. Space Force to the U.K.’s Royal Air Force. Virgin Orbit has launches booked by customers ranging from the U.S. ![]() The air launch approach provides more flexibility than the industry standard vertical launch rockets, the company has said. Once conditions are appropriate, the plane sends the spacecraft into orbit. Virgin Orbit uses a special “air launch” system in which a spacecraft is attached to the undercarriage of a Boeing 747 plane. The company uses an unconventional launching technique compared with Jeff Bezos’ Blue Origin and Elon Musk’s SpaceX. It aims to revolutionize the small satellite industry and serve military and commercial customers at the lower end of the space market. Richard Branson founded the company in 2017, and it’s owned by the Virgin Group. ![]() Virgin Orbit is a small-satellite launch service. CEO Dan Hart announced the company was going public via SPAC (special purpose acquisition company) merger earlier this week.īut should you invest in the Virgin Orbit IPO? Here’s what we know… Virgin Orbit IPO: About the Business ![]()
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