Virgin Galactic to Become Publicly Traded

Virgin Galactic’s shareholders have recently disclosed that a merger (launched earlier this year), with Chamath Palihapitiya’s special Social Capital Hedosophia Holding Company, will go public as Virgin Galactic, at NYSE by Friday, November 1st. The merger between Virgin Galactic and Palihapitiya occurred originally this past July will see an $800 million investment in the company. Richard Branson actually owns two Virgin owned companies, Galactic and Virgin Orbit, which, will eventually, bring commercial launches into orbit; and will hope to bring tourists into space via SpaceShipTwo. For paying space tourists, Virgin Galactic will use spacesuits that cost $250,000 each. The spacecraft will be able to hold six travelers. According to Virgin Galactic, there is a waitlist of nearly 600 customers already.
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