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Virgin Orbit Holdings, Inc. (NASDAQ: VORB) announced it is facing delisting from Nasdaq after voluntarily filing for Chapter 11 bankruptcy. Nasdaq cited non-compliance with Listing Rule 5250(c)(1) due to the failure to file its Annual Report for the fiscal year ending December 31, 2022. Trading of its common stock and warrants will be suspended starting April 13, 2023. Virgin Orbit intends to appeal the delisting, though such appeal will not stop the suspension unless successful. If the appeal fails, Nasdaq will file a Form 25 with the SEC to officially remove Virgin Orbit's securities from listing. The company, founded by Richard Branson, specializes in responsive space launch services and has faced operational challenges since commencing commercial services in 2021.
Virgin Orbit Holdings, Inc. has initiated voluntary Chapter 11 bankruptcy proceedings in the U.S. Bankruptcy Court for Delaware to facilitate a business sale. The company secured
On 9 January 2023, Virgin Orbit's LauncherOne failed to reach orbit during a historic launch attempt from the United Kingdom. Despite successful pre-flight preparations and initial flight milestones, an issue involving a dislodged fuel filter led to engine starvation and premature thrust termination. The company is conducting an extensive investigation with oversight from the U.S. Federal Aviation Administration and UK Air Accidents Investigation Branch. CEO Dan Hart emphasized the motivation to improve systems and hinted at modifications for future launches. Virgin Orbit aims for its next launch from Mojave Air and Space Port in California, with more details forthcoming.
Virgin Orbit (NASDAQ: VORB) has entered a follow-on launch services agreement with Polish satellite manufacturer SatRev for additional satellite launches in 2023 and beyond. This agreement allows SatRev to launch 500 kg of payload across multiple launches from various international sites, including Mojave Air and Space Port. Virgin Orbit has successfully launched four of SatRev's satellites already. Both companies express excitement for future collaborations, with SatRev aiming to expand its satellite constellation for improved earth observation capabilities. This partnership emphasizes cost-effective access to space and innovative satellite technology.
The Start Me Up mission, conducted by
The historic first satellite launch attempt from British soil reached space but failed to achieve its target orbit. Cosmic Girl, a customized 747, successfully released the LauncherOne rocket, which ignited its engines and reached hypersonic speeds. However, an anomaly during the second stage engine firing led to mission failure. Despite not achieving orbit, the mission marked significant achievements and demonstrated UK capabilities in space launch. Virgin Orbit plans to investigate the failure to improve future missions.
The UK’s first orbital launch window for the Start Me Up mission opens on January 9, 2023, at 22:16 UTC. This historic launch is a collaboration involving Virgin Orbit (NASDAQ: VORB), the UK Space Agency, Cornwall Council, and the Royal Air Force, carrying satellites from seven customers, including commercial and government payloads. The launch system, LauncherOne, has successfully completed a rehearsal and is ready for operation. This mission represents several milestones: the first orbital launch from UK soil and the first international launch for Virgin Orbit.
The U.K. Civil Aviation Authority has awarded launch and range control licenses to Virgin Orbit (Nasdaq: VORB) for the inaugural satellite launch from U.K. soil, marking a significant milestone in the space industry. This approval enables Virgin Orbit to proceed with the historic Start Me Up mission scheduled from Spaceport Cornwall. The company has confirmed that its systems are ready for launch, with final checks and rehearsals underway. The launch window is anticipated to open in the upcoming weeks, facilitating the deployment of nine satellites into orbit.
Virgin Orbit (Nasdaq: VORB) announces that CEO Dan Hart will present at the SHARE Series Conference on December 5, 2022, at 10:30 a.m. ET. The event will be held virtually, and a live webcast can be accessed via this link. An archived replay will also be available for 90 days post-event. Virgin Orbit, founded by Sir Richard Branson in 2017, specializes in flexible space launch solutions, having initiated commercial operations in 2021.
Virgin Orbit (Nasdaq: VORB) announced that CEO Dan Hart will present at the Morgan Stanley Space Summit on December 6, 2022, at 8:15 a.m. Eastern Time. The event will also feature one-on-one meetings. Founded by Richard Branson in 2017, Virgin Orbit commenced commercial services in 2021, successfully launching various satellites. With a flexible launch system, the company operates globally from locations best suited to meet customer needs. For more details, visit www.virginorbit.com.
