Boeing to invest in Virgin Orbit in SPAC listing - report - Breaking The News

Boeing to invest in Virgin Orbit in SPAC listing - report

23 August

1 min read

VIRGIN ORBIT

Boeing Co. plans to invest in Virgin Orbit as the satellite launch company prepares for a special purpose acquisition company (SPAC) listing, the Wall Street Journal reported on Monday. Sources said Boeing will invest through a fundraising round that has so far "garnered a total of $100 million in commitments," although the size of the aerospace giant's stake is currently unknown.

Virgin Orbit's SPAC deal is valued at around $3 billion. The company, whose majority owner is billionaire Richard Branson, is expected to merge with NextGen Acquisition II, co-chaired by former Goldman Sachs Group Inc. banker George Mattson.

space branson spac boeing virgin orbit

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