Richard Branson Is Bringing Virgin Galactic To The Stock Market



Richard Branson is bringing Virgin Galactic to the stock market…. The billionaire’s space tourism venture said Tuesday that it will go public as part of a deal that will see new investors take a 49% stake in Virgin Galactic.

Virgin Galactic will merge with Social Capital Hedosophia (SCH), a company formed by venture capital firms Social Capital and Hedosophia. It is traded on the New York Stock Exchange.


mm44444

>>> Passive Income Opportunities <<< Get Your FREE 48 Hour On-Demand Access Pass To Chris Luck’s Infamous Membership Method NOW!


“Upon closing of the transaction, which is expected in the second half of 2019, [Virgin Galactic] will be introduced as the first and only publicly traded commercial human spaceflight company,” the companies said in a statement.


galatic


Virgin Galactic’s existing investors are being offered a combination of SCH stock and cash. The current management of Virgin Galactic will remain in place.

The deal was first reported by the Wall Street Journal… Going public will help Virgin Galactic raise money needed to compete against rivals such as Jeff Bezos’ Blue Origin and Elon Musk’s SpaceX in the billionaire’s space race.


forbes

Forbes: How A 28-Year-Old Got Fired Then Built A $500K-A-Month Business While Traveling The World


Hundreds of people are lined up to ride a short high-speed trip aboard a Virgin Galactic space plane and have agreed to pay $200,000 to $250,000 per seat.

Branson plans to be the first non-crew member to board the plane.

“Hopefully, in not many months’ time, I’ll fulfill my dream of going to space and others will soon follow,” Branson said in May.

Bezos has also spent years working on its space tourism plans, and Blue Origin is expected to compete directly with Virgin Galactic in that business.


Best Online Trading Platform For Beginners And Professional Traders. Shares, Indices, Forex and Cryptocurrencies. Start Trading Now or Try a FREE Demo Account.


Blue Origin expects to launch its first person into space by the end of the year.

SpaceX, which has built a business around building rockets to launch satellites and resupply missions to the International Space Station, also plans to send tourists into space.

Advertisements


Categories: News, Stock Markets

Tags: , , , , , , , , , , ,

1 reply

Trackbacks

  1. Financial Markets: Turnaround Tuesday – Stock Market News Today

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: