Report: Virgin Orbit Preparing to Go SPAC June 12, 2021 Doug Messier News Leave a comment LauncherOne ignites after being dropped from Cosmic Girl. (Credit: Virgin Orbit)
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 .
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.