virgin orbit

Virgin Orbit, the four-year-old spinout of Richard Branson's space firm Virgin Galactic is merging with NextGen Acquisition Corp. 11 at the end of the year to become a publicly traded company under the NASDAQ ticker VORB.

The merger will provide the company with up to $483 million in new capital, Virgin Orbit predicts - $383 million from NextGen, and $100 million in PIPE that includes investors such as AE Industrial Partners and Boeing.

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Last night, Rocket Lab made a big comeback from its failed launch last May. The Long Beach startup's Electron rocket launched a satellite for the U.S. Space Force, bringing their total to 105.

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Elon Musk's Hawthorne-based SpaceX is joining the aerospace hub in Long Beach with a new 6.5 acre facility.

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