Virgin Orbit, the satellite launching spinoff of Sir Richard Branson’s Virgin Galactic, is in advanced discussions to go public at an approximately $3 billion valuation through a SPAC, CNBC confirmed on Saturday.
Virgin Orbit, the satellite-launching spinoff of Sir Richard Branson’s Virgin Galactic, is in advanced discussions to go public at about a $3 billion valuation through a SPAC led by a former Goldman Sachs partner, CNBC confirmed Saturday.
The company is in talks on a deal with NextGen Acquisition II, a person familiar with the discussions told the network. NextGen II is a special purpose acquisition company led by George Mattson, who previously co-led Goldman’s global industrials group.
Sky News first reported the talks on Saturday, saying a deal is expected to be announced in the coming weeks.