You Can Now Buy Stock In Richard Branson’s Space Tourism Company Virgin Galactic

... [+]Virgin Galactic, the space tourism company founded by Richard Branson, has completed its merger with Social Capital Hedosophia. As of Monday, the company is trading on the New York Stock Exchange under the ticker SPCE, the first space tourism company to publicly trade on a stock exchange.

Now “anyone can invest in a human spaceflight company that is striving to truly transform the market and be part of the excitement of the commercial space industry,” Virgin Galactic CEO George Whitesides said in a statement. The company took an unusual path to become a publicly traded company. Rather than a traditional IPO or a direct listing, it instead merged with publicly traded Social Capital Hedosophia . Chamath Palihapitiya founded SCH in 2017 as a special-purpose acquisition company, with an initial price of $10 per share. The company’s stock price was $11.79 at market close Friday, giving SCH a market cap of about $972 million.

After finalizing the merger, Virgin Galactic’s existing shareholders will own about 59% of the combined company. The company’s existing management will remain in place, with SCH directors Adam Bain and James Ryans joining the board. Palihapitiya will be the new chairman of the company. In a statement, Branson expressed his enthusiasm for his company going public. “I believe Virgin Galactic is ideally positioned to capitalize on the fast-growing, multibillion-dollar commercial space market and ultimately open space to thousands of new astronauts,” he said.

Awesome

He has been saying since 2009, I wonder which will be the first, the new Berlin airport opening or space trip

I can see those shares doing well, worth a punt

Honestly that craft looks absolutely unreal 😍😍

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