British billionaire Richard Branson's space-tourism unit Virgin Galactic plans to go public later this year, the company announced Tuesday., a special-purpose acquisition company created by venture capitalist Chamath Palihapitiya.
Social Capital Hedosophia, formed by Palihapitiya's Social Capital and venture capital firm Hedosophia in 2017, will invest $800 million for a 49% stake in the combined company. The firm will have an enterprise value of $1.5 billion, Virgin Galactic said.Branson's space venture would be the first publicly-listed human spaceflight firm, with the stock market listing slated to take place in the second half of 2019.
Branson had been in talks with Palihapitiya since he suspended talks over a Saudi investment in his space companies last year. Riyadh had planned to invest a total of $1 billion into Virgin Galactic and Virgin Orbit, which focuses on small satellites, but the deal fell through over the murder of journalist Jamal Khashoggi.
The billionaire business magnate, who founded Virgin Galactic in 2004, is currently locked in a tense space race with rivals including
kevinolearytv richardbranson SuperRich i'll just keep that 250K , chomp doggie biscuits and watch the auroras.
kevinolearytv richardbranson SuperRich Don’t let Bernie Sanders know the 1% are wasting their money on joy riding at the edge of earth. Adding more CO 2 to atmosphere direct injection . AOCastro pay attention this is speeding up end of world.
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kevinolearytv richardbranson SuperRich
kevinolearytv richardbranson SuperRich they don't actually go to space though. 62 miles is the minimum altitude to be considered the vacuum of space
kevinolearytv richardbranson SuperRich Richard, do you think if all humans had an opportunity to see the earth from above it would change our perspectives on humanity? I know I can do Google earth and all but seeing it from above irl has to be mind changing.
SquawkCNBC Not for me
SquawkCNBC I would definitely stay away from this IPO!
SquawkCNBC Itll fail
SquawkCNBC Ffs just get Branson in that ship on a one way ticket
SquawkCNBC America if the tax laws were fair we would not have one billionaire and all that money over 500 million would be in the lower 50% of the populations pay checks. We have got to stop being stupid.
SquawkCNBC ''The amount of people who would love to go to space is enormous,' Branson said' ...and the number of people that many on Earth would like to send into space is even greater... derived demand
SquawkCNBC I’m tryna get lit in space, ngl 🔥
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