Virgin Orbit looks to go public via SPAC path as space interest grows

Rocket flies through the clouds
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  • Richard Branson is in advanced talks to take Virgin Orbit public through a SPAC merger with NextGen Acquisition II. A deal price that values Virgin Orbit at around $3B is being discussed, sources tell Sky News.
  • The NextGen SPAC was set up by former Goldman Sachs exec George Mattson.
  • Virgin Orbit is majority owned by Virgin Group, with the Abu Dhabi sovereign fund holding a 20% stake. The company calls itself the premier dedicated small satellite launch service.
  • Also within the space sector, Branson-led Virgin Galactic (NYSE:SPCE) is up 143% over the last 52 weeks.
  • Space-related ETFs: UFO, ROKT, ARKX.
  • Related: Interest in space investing takes off as SpaceX capsule docks at ISS.

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