
Following in the footsteps of its sister company, Virgin Orbit is preparing to go public through a merger with a special purpose acquisition company (SPAC), Sky News reports.
(more…)Sky News can reveal that Virgin Orbit is close to finalising a deal to combine with NextGen Acquisition II, a special purpose acquisition company (SPAC) set up by George Mattson, a former Goldman Sachs banker.
Sources said this weekend that NextGen II was in exclusive talks with Sir Richard’s Low Earth Orbit satellite business, which is 80%-owned by the tycoon’s Virgin Group empire.
Mubadala, the Abu Dhabi sovereign fund, owns the remaining 20% of Virgin Orbit’s shares.
A definitive deal valuing Virgin Orbit at approximately $3bn (£2.1bn) could be announced in the coming weeks, according to insiders…
The choice of NextGen is a logical one, since Mr Mattson is a director of Virgin Galactic, and is an experienced aviation industry insider, having also been a director of Delta Air Lines for nearly nine years.










