Monday, August 4, 2025

Latest

Richard Branson’s Virgin Orbit Closes SPAC Reverse Merger, Misses Fundraising Target

Richard Branson’s aerospace firm Virgin Orbit took its Nasdaq flight on Thursday. The firm’s parent company, Vieco USA, closed the previously announced business combination deal with special purpose acquisition company NextGen Acquisition Corp. II (Nasdaq: VORB).

However, the merger was met with a lukewarm reaction from the market as it only manages to raise US$228 million out of its fundraising target of US$483 million. This came in even after the Virgin Group announced a US$100 million additional PIPE investment days prior to the debut.

The blank check firm closed its US$350 million initial public offering in March 2021, offering 35 million company units at US$10.00 per unit. The company had said it planned to pursue a business combination with a firm in the industrial, technology, and healthcare sectors.

Following the closing of the deal, NextGen Acquisition changed its name to Virgin Orbit Holdings, Inc. while shares and warrants started trading on the Nasdaq big board under symbols “VORB” and “VORBW”, respectively.

Branson is expected to ring the Nasdaq opening bell on January 7, 2022.

Virgin Orbit last traded at US$9.14 on the Nasdaq.


Information for this briefing was found via Edgar, Financial Times, and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

San Dimas: First Majestic Silver’s Sleeper Asset

New Gold Q2 Earnings: Record Free Cash Flow

STLLR Gold: The Tower Gold PEA

Recommended

Tsunami Warnings Spread As Largest Quake Since 2011 Hits Russia

Northern Superior Intersects 1.75 g/t Gold Over 65.0 Metres At Philibert

Related News

Satellite Maker Terran Orbital Debuts On NYSE Via US$255 Million SPAC Deal

Small satellite manufacturer Terran Orbital (NYSE: LLAP) makes its debut on the New York Stock...

Monday, March 28, 2022, 02:21:00 PM

Freight Payment Platform Freightos To Be Taken Public In A US$435 Million SPAC Merger

Freight booking and payment platform Freightos Limited is looking to debut on the Nasdaq after...

Wednesday, June 1, 2022, 02:21:00 PM

Former Tapestry CEOs-Led Consumer SPAC Acacia Blue Prices US$240 Million IPO

Special purpose acquisition company Bleuacacia (Nasdaq: BLEUU), also referred to as Acacia Blue, started trading...

Thursday, November 18, 2021, 02:17:00 PM

Tech SPAC Denali Capital Acquisition Prices US$75 Million IPO

Special purpose acquisition company Denali Capital Acquisition Corp. (Nasdaq: DECAU) started trading publicly on the...

Friday, April 8, 2022, 02:19:00 PM

Cannabis Marketing Agency Springbig To Be Taken Public In SPAC Merger

Cannabis marketing platform Springbig is set to be taken public by special purpose acquisition company...

Thursday, December 23, 2021, 02:19:00 PM