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Virgin Orbit in talks with SPAC for $3 billion deal to go public

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Richard Branson’s Virgin Orbit, with a rocket under the wing of a modified Boeing 747 jetliner, takes off for a key drop test of its high-altitude launch system for satellites from Mojave, California, July 10, 2019.

Mike Blake | Reuters

Virgin Orbit, the satellite-launching spinoff of Sir Richard Branson’s Virgin Galactic, is in advanced discussions to go public at about a $3 billion valuation through a SPAC led by a former Goldman Sachs partner, CNBC confirmed Saturday.

The company is in talks on a deal with NextGen Acquisition II, a person familiar with the discussions told CNBC. NextGen II is a special purpose acquisition company led by George Mattson, who previously co-led Goldman’s…



Source cnbc.com

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