Virgin Galactic Chairman Chamath Palihapitiya Raises $720 Million in IPO for a New Company
Virgin Galactic chairman Chamath Palihapitiya raised $720 million for a new blank-check firm. It is 20% more than it was expected earlier.
Virgin Galactic chairman Chamath Palihapitiya raised $720 million for a new blank-check firm. It is 20% more than it was expected earlier.
Vertical Research Partners describes the stock of Virgin Galactic Holdings Inc. as a “one-of-a-kind opportunity to invest in space tourism.”
Today the Shares of Richard Branson-backed Virgin Galactic has jumped as much as 7.7% in early trading on the New York Stock Exchange.
If the plan goes successful, Virgin Galactic will be the first human spaceflight company to go public. The company is confident of turning profitable within two years of its public listing.
Virgin Galactic announced that it will go public in the second half of 2019 with Social Capital Hedosophia Holdings Corp expected to acquire 49% of the space-tourism company.