Virgin Galactic Holdings, Inc. (SPCE)
After hours:
- Reuters
Virgin Orbit extends worker furlough, continues funding talks -CEO
Billionaire Richard Branson's cash-strapped Virgin Orbit Holdings will extend an unpaid furlough for most of its employees as talks seeking new funding continue, the company's chief executive said in an email to employees on Monday. "Our investment discussions have been very dynamic over the past few days, they are ongoing, and not yet at a stage where we can provide a fulsome update," Virgin Orbit CEO Dan Hart wrote in the email seen by Reuters. Virgin Orbit declined further comment.
- Motley Fool
If You Invested $10,000 in Virgin Galactic When It Went Public, This Is How Much You Would Have Today
Virgin Galactic didn't enter the public markets the normal way, with an initial public offering (IPO). It was bought by a special purpose acquisition corporation, or SPAC, in late 2019. A SPAC has already issued shares to the public and is sitting on a pile of cash that has been entrusted to management for future investment.
- Bloomberg
Virgin Orbit Furloughs Staff, Halts Operations While It Seeks Funding
(Bloomberg) -- Virgin Orbit Holdings Inc. shares tumbled after the Richard Branson-founded satellite launch firm said it would halt operations while attempting to secure more funding.Most Read from BloombergFirst Republic Set to Get $30 Billion of Deposits in RescueIn New York City, a $100,000 Salary Feels Like $36,000First Republic Bank Is Exploring Options Including a SaleThe 10 Top US Cities Where a $100,000 Salary Goes the FurthestNew Fed Bank Backstop Has Scope to Inject as Much as $2 Trill
