• Contact Us
  • Privacy Policy
Tech News, Magazine & Review WordPress Theme 2017
  • Business
    • Real Estate
  • Entertainment
  • Games
  • Health
  • Lifestyle
    • Art
    • Food
    • Books
  • Tech
  • US
  • World
No Result
View All Result
Monte Press
No Result
View All Result
Home Business

Richard Branson’s Company, Virgin Orbit, to Make its Stock Market Debut Later this Year

Helene Davis by Helene Davis
August 24, 2021
in Business
Richard Branson’s Company, Virgin Orbit, to Make its Stock Market Debut Later this Year
Share on FacebookShare on Twitter

British businessman Richard Branson’s company, Virgin Orbit, known for launching small satellites into space, will make its entry into the stock market. It will happen later this year through a reverse merger process.

As per the available data, the deal is expected to close in the last three months of 2021. And it will enjoy a value of $3.2 billion. The listing will take place on the NASDAQ under the ticker VORB.

Virgin Orbit and Virgin Galatic are two space-focused companies of Richard Branson. And the former is different from the latter. Last month, Virgin Galactic made news for its suborbital space tourism as it flew Branson on a trip to the edge of space.

In 2017, Virgin Orbit separated from Virgin Galactic as the latter decided to go public through its SPAC deal in 2019. The company mainly focuses on launching lightweight satellites into space through its air-launching method.

SPACs – A Popular Means for Startups to Enter the Stock Market

Virgin Orbit has completed the three successful flights. Its 70-foot-long Launcher One rocket has seen the take-off under the wing of a Boeing 747 jet. Then, it follows the root over the Pacific Ocean.

For some time, SPACs (Special Purpose Acquisition Companies) have gained traction among startups to make their debut in the stock market. Particularly, startups in experimental fields prefer this way.

SPACs consider a firm as a shell company and list it on the stock market for the public. It allows the public to invest in it and facilitates the SPAC controllers to look for an acquisition target.

NextGen Acquisition Corp. II is the SPAC that will take over Virgin Orbit. It made its entry into the stock market in March this year and it enjoyed a market value of over $500 million till Monday morning.

Investors to Enjoy Major Ownership Over the Company

Usually, investors are uncertain about SPAC companies because it attracts companies that don’t go public. But Wall Street has become a supporter of SPACs.

Virgin Orbit investors would enjoy a major share of 85% in the ownership over the company once its SPAC deal closes. These investors are Virgin Group, Mubadala Investment Company, the Emirati sovereign wealth fund, management, and employees.

As per the available public data, Virgin Orbit has around $300 million worth of contracts in line. And it is expected to attract over $2 billion in revenue by 2026. This is simply by selling services to government customers and commercial satellite operators.

Previous Post

More Americans Decide to Get Vaccinated Following an Alarming Increase in Covid-19 Hospitalizations

Next Post

Supreme Court Orders Biden to Revive Trump’s ‘Remain in Mexico’ Immigration Policy

Helene Davis

Helene Davis

Related Posts

TheNorthernMarkets.com Review Exploring Trading Capabilities & Insights
Business

TheNorthernMarkets.com Review Exploring Trading Capabilities & Insights

February 14, 2025
Why Emotional Intelligence is Important in the Workplace?
Business

Why Emotional Intelligence is Important in the Workplace?

December 29, 2022
Shardul With his Wife
Entertainment

Shardul Singh Bayas: Biography, Family, Career, And More

June 19, 2022
George Whitesides, the Former Virgin Galactic CEO, will be a Part of the Company’s Next Spaceflight Test
Business

George Whitesides, the Former Virgin Galactic CEO, will be a Part of the Company’s Next Spaceflight Test

July 24, 2021
Homebuyers in the US are Finding it Really Difficult to Buy their House
Real Estate

Homebuyers in the US are Finding it Really Difficult to Buy their House

July 14, 2021
United Airlines has Placed its Biggest Aircraft Order With a Hope to Get Profit from a Travel Boom After Pandemic
Business

United Airlines has Placed its Biggest Aircraft Order With a Hope to Get Profit from a Travel Boom After Pandemic

June 30, 2021
The US Housing Market Continues to be Sizzling Hot to Yield Higher Home Prices and Fast Home Selling
Real Estate

The US Housing Market Continues to be Sizzling Hot to Yield Higher Home Prices and Fast Home Selling

June 20, 2021
The US Housing Market is Seeing a Decline in Demand Due to Skyrocketing Prices & Short Supply of Houses
Real Estate

The US Housing Market is Seeing a Decline in Demand Due to Skyrocketing Prices & Short Supply of Houses

May 27, 2021
Next Post
Supreme Court Orders Biden to Revive Trump’s ‘Remain in Mexico’ Immigration Policy

Supreme Court Orders Biden to Revive Trump’s ‘Remain in Mexico’ Immigration Policy

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

About Us

Monte Press

Monte Press

MontePress is all about providing you with the latest and trending news from around the globe.

Categories

  • Animals
  • Art
  • Books
  • Business
  • education
  • Entertainment
  • Environment
  • Food
  • Games
  • Health
  • Lifestyle
  • Nature
  • Plants
  • Politics
  • Real Estate
  • Tech
  • US
  • World
  • Contact Us
  • Privacy Policy

© 2021 MontePress.com

No Result
View All Result
  • Business
    • Real Estate
  • Entertainment
  • Games
  • Health
  • Lifestyle
    • Art
    • Food
    • Books
  • Tech
  • US
  • World

© 2021 MontePress.com