Virgin Galactic to start trading today

Oct. 28, 2019 8:51 AM ETSPCEBy: Clark Schultz, SA News Editor14 Comments
  • Virgin Galactic Vehicle Holdings (NYSE:SPCE) is expected to start trading later today after its reverse merger is with Social Capital Hedosophia (NYSE:IPOA) is finalized.
  • Bloomberg reports that Virgin Galactic has sold 603 tickets at $250K apiece backed by some $80M in deposits. Virgin is seen having a runway of two years based off a cash burn rate of roughly $190M to $200M a year against the estimated $400M in cash raised via the offering.
  • The space tourism company isn't due to begin operations until June of 2020.

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