https://wccftech.com/virgin-galactic-nyse-spce-on-the-precipice-of-an-insider-selling-tsunami-as-the-virgin-group-seeks-to-liquidate-a-part-of-its-stake/

Virgin Galactic (NYSE:SPCE) – Richard Branson’s venture attempting to pioneer commercial spaceflight – is apparently on the verge of a historic liquidation. As per the latest disclosure through its subsidiary Vieco 10 Limited, the Virgin Group is looking to liquidate up to 25 million shares in Virgin Galactic.

In an S-1 filing with the U.S. Securities and Exchange Commission (SEC) today, the Virgin Group has revealed that it may offer and sell up to 25,000,000 shares in Virgin Galactic either to or through Credit Suisse Securities (SWX:CSGN). As per the filing, the Virgin Group intends to use the proceeds from the sale of these shares to “support its portfolio of global leisure, holiday and travel businesses that have been affected by the unprecedented impact of COVID-19”. As an illustration. Richard Branson recently asked for a £500 million bailout from the British government in order to alleviate the severe stress upon Virgin Atlantic – the billionaire’s struggling airline.