SPCE Jan 2025 1.500 call
- Reuters
US SEC sues over alleged bogus bailout of Richard Branson's Virgin Orbit
(Reuters) -A Texas man was sued by the U.S. Securities and Exchange Commission on Monday over his alleged fraudulent $200 million offer to rescue billionaire Richard Branson's now-defunct satellite launch services company Virgin Orbit. The SEC said Matthew Brown falsely portrayed himself, including on CNBC, as an experienced venture capitalist with investments in "over 13 space companies" when he made a bogus offer to buy Virgin Orbit stock on March 19, 2023, as the company teetered near bankruptcy. According to the SEC, Brown fabricated a screen shot of his company's bank account to show a "current" balance of $182,383,991, though it contained less than $1, and demanded that Virgin Orbit pay a 3% "break-up" fee if his investment did not close.
- Yahoo Finance Video
Virgin Galactic stock tumbles after reverse stock split
Virgin Galactic (SPCE) shares are trading lower after the company implemented a 1-for-20 reverse stock split, which took effect on Monday. This action, aimed at increasing the company's stock price and meeting listing requirements, has triggered a sell-off among investors. Yahoo Finance's Market Domination takes a closer look at the space tourism company's stock action. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Angel Smith
- Business Wire
Virgin Galactic Reports Inducement Award Under NYSE Listing Rule 303A.08
ORANGE COUNTY, Calif., June 17, 2024--Virgin Galactic Holdings, Inc. (NYSE: SPCE) ("Virgin Galactic") announced that the Compensation Committee of Virgin Galactic’s Board of Directors approved the grant, effective June 15, 2024, of a time-based inducement restricted stock unit award of 1,741 shares of Virgin Galactic common stock (after taking into account the 1-for-20 reverse stock split of Virgin Galactic common stock, which became effective on June 14, 2024) to one new non-executive employee.
