Virgin Orbit, Sir Richard Branson’s second space company to reach the market, is set to go on sale on Thursday after raising less than half of its target of nearly $ 500m.
There is a lack of exchange in the Nasdaq exchange following Branson’s Virgin Group’s last-minute announcement to deposit $ 100m in Orbit for the deal to take place.
The list comes at the end of the year very dangerous businesses which came to light through partnerships with private-sector companies, or Spacs, including a number of startups in the business space.
It also shows a big difference with strong acceptance was impressed two years ago by Virgin Galactic, Branson’s first public label. The deal resulted in a British businessman earning hundreds of millions of dollars to support its other businesses during the coronavirus epidemic.
Virgin Orbit criticized the incident on its “market” list, adding: “We are fighting a major hurricane at the end of the year.”
Virgin Orbit listing, through sales to the empty check company NextGen Acquisition Corp II, comes at the end of the year it ended the first successful opening of a rocket entering the path from under the wing of a specially designed Boeing 747 aircraft.
The company hopes to complete its third launch from the US in January, with the first UK test to take place by 2022.
The orbital opening company said this week it raised $ 228m from its list, less than the $ 483m it was expected at the time. sales plan was announced. Advertisers in Spac only donated $ 68m, the company said, compared to the $ 383m expected.
To meet the minimum funding required by the agreement, Virgin contributed to Pipe – or a private fund – a vaccine that raised $ 160m, from the original $ 100m plan. Other retailers in Pipe and Mubadala, the Abu Dhabi fund have become one of Virgin Orbit’s biggest contributors, as well as Boeing and AE Industrial Partners.
Investments in the Spacs have opened the way for a number of trading platforms to go public this year, even though prices have dropped in recent weeks.
The share price of the Rocket Lab opening company has dropped by 40 percent from September to $ 11.33, while global photography companies Planet and Spire have both dropped below the $ 10 level representing the demise of Spac investors.
Virgin Galactic shares affected about $ 56 in the middle of the year when Branson planned personal journey to the edge of space which should signal the start of its tourism business. But the share price fell by 77 percent when the company failed to comply with the restart.
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