Welcome to our dedicated page for Virgin Galactic Holdings news (Ticker: SPCE), a resource for investors and traders seeking the latest updates and insights on Virgin Galactic Holdings stock.
Virgin Galactic Holdings, Inc. (symbol: SPCE) is a trailblazer in commercial space travel, being the world's first commercial spaceline. The company is revolutionizing space access by developing vehicles designed to fly private astronauts, research experiments, and satellites into space. With a vision of democratizing space for the benefit of life on Earth, Virgin Galactic offers an unparalleled astronaut experience that includes out-of-seat weightlessness and breathtaking views of Earth from space.
At the core of Virgin Galactic’s offerings is SpaceShipTwo, a reusable spaceplane engineered by aerospace pioneer Scaled Composites. This sophisticated vehicle is built to carry two pilots and up to six astronauts, or more than 1,000 pounds of scientific experiments, on commercial flights from Spaceport America in New Mexico—the world’s first purpose-built commercial spaceport.
In addition to human spaceflight, Virgin Galactic is advancing the field of small satellite launches with LauncherOne. This dedicated launch vehicle is designed to transport smaller satellites, typically weighing between 200-300 kilograms, into Earth orbit at historically low prices. LauncherOne expands the company’s offerings by providing cost-effective access to space for a variety of missions.
Virgin Galactic’s wholly-owned manufacturing arm, The Spaceship Company, is integral to its operations, producing advanced air and space vehicles. The company’s vertically integrated structure ensures seamless development and execution of its projects. Recently, Virgin Galactic has achieved significant milestones, including successful test flights and partnerships aimed at enhancing its technological capabilities and service offerings.
Financially, Virgin Galactic is focused on scaling its operations and achieving long-term profitability. The company continues to invest in research and development to enhance its spaceflight systems and customer experience. Key partnerships and strategic alliances are also pivotal in driving future growth and innovation.
Virgin Galactic's mission to make space travel accessible is not only about adventure but also about contributing to scientific research and technological advancement. By enabling private astronauts and researchers to explore the final frontier, the company is opening new possibilities for life on Earth and beyond.
Virgin Galactic Holdings (NYSE: SPCE) announced the immediate departure of Chamath Palihapitiya from its Board of Directors to focus on other commitments. Evan Lovell, a board member since 2017 and Chief Investment Officer of Virgin Group, has been appointed as Interim Chairman. Palihapitiya, who joined the board in 2019, played a crucial role in the company’s public launch and growth. The board has engaged Spencer Stuart for the search for a new chairperson. CEO Michael Colglazier expressed gratitude for Palihapitiya's contributions during a pivotal period for Virgin Galactic.
Virgin Galactic (NYSE: SPCE) has announced that ticket sales for commercial spaceflights will open to the public on February 16. Customers can secure one of the initial reservations and join the Future Astronaut community. The total price for a spaceflight reservation is $450,000, requiring an initial deposit of $150,000. CEO Michael Colglazier stated they aim to have their first 1,000 customers onboard for commercial service later this year. The company has also launched a new brand identity to enhance its commercial operations.
Virgin Galactic Holdings (NYSE: SPCE) has appointed Blair Rich as President and Chief Business Officer for Commercial and Consumer Operations, overseeing the company’s commercial strategy ahead of its anticipated commercial service launch. Rich, with over 20 years of marketing experience including a tenure at Warner Bros., will lead sales, marketing, and customer experience. Her previous work includes successful campaigns for high-profile films. The company aims to create transformative experiences for customers traveling to space, positioning Rich’s leadership as crucial for success in 2023.
Virgin Galactic Holdings, Inc. (NYSE: SPCE) will announce its financial results for the fourth quarter and full year 2021 on February 22, 2022, after U.S. market close. The company will hold a conference call at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss the results. A live webcast and replay will be accessible on the company's Investor Relations website. Virgin Galactic focuses on pioneering human spaceflight for private individuals and researchers and is developing advanced air and space vehicles.
Virgin Galactic Holdings (NYSE: SPCE) announced the pricing of $425 million of 2.50% convertible senior notes due 2027, set to close on January 19, 2022. The notes will mature on February 1, 2027, with interest paid semi-annually. Virgin Galactic estimates net proceeds of approximately $413.7 million for working capital and capital expenditures to accelerate spacecraft development. An additional $75 million may be purchased by initial buyers. The initial conversion price is about $12.79 per share, reflecting a premium over recent stock prices.
Virgin Galactic Holdings, Inc. (NYSE: SPCE) plans to offer up to $425 million in convertible senior notes due in 2027, with an option for initial purchasers to buy an additional $75 million. The notes will be unsecured and accrue interest payable semi-annually starting August 1, 2022. Proceeds from the offering will fund working capital, administrative expenses, and capital expenditures for spacecraft development. The company expects to enter capped call transactions to mitigate dilution risks from note conversions. The offering is exempt from registration under the Securities Act.
Virgin Galactic Holdings (NYSE: SPCE) reported third quarter 2021 results, highlighting strong demand for its commercial space travel service, with approximately 700 of the 1,000 targeted reservations sold at a price of $450,000 per seat. The company is on track to commence private astronaut services in Q4 2022 and has initiated a fleet enhancement program to boost vehicle reliability. Financially, Virgin Galactic maintains a robust cash position of $1 billion, though it recorded a net loss of $48 million, an improvement from a $92 million loss the previous year.
Virgin Galactic (NYSE: SPCE) has initiated an enhancement program for its space vehicles, VMS Eve and VSS Unity, aimed at improving performance and increasing flight capabilities. Following recent material testing that indicated potential reductions in strength margins, the company will conduct further inspections. The enhancement period will be followed by the Unity 23 test flight, in collaboration with the Italian Air Force. Despite a slight delay, commercial services are now anticipated to commence in Q4 2022.
Virgin Galactic Holdings (NYSE: SPCE) announced it will release its financial results for Q3 2021 on November 8, 2021, after U.S. market close. A conference call to discuss these results is scheduled for 2:00 PM PT (5:00 PM ET) the same day. Investors can access a live webcast and replay through the Company’s Investor Relations website.
Virgin Galactic focuses on pioneering human spaceflight and developing advanced air and space vehicles.
Virgin Galactic Holdings (SPCE) has announced that it is cleared for FAA-licensed spaceflights following the conclusion of an inquiry regarding air traffic control clearance from its July flight, Unity 22. The FAA has accepted the company's proposed corrective actions, which include expanded protected airspace and enhanced real-time mission notifications to air traffic control. CEO Michael Colglazier emphasized the commitment to safety and the importance of these updates as the company progresses towards its commercial spaceflight launch.
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