TOP NEWS

Virgin Galactic Plans To Go Public Via Acquisition Deal

Mojave-based Virgin Galactic, the space tourism venture led by Richard Branson, is looking to go public via a merger with a special purpose acquisition company (SPAC), called Social Capital Hedosophia Holdings Corp., according to the WSJ. The paper, citing "people familiar with the matter", says Social Capital Hedosophia Holdings would invest roughly $800M in Virgin Galactic for a 49 percent stake in the company, and create what will be the first, publicly traded space tourism company. Virgin Galactic has not yet announced any details on the deal.