Virgin Galactic becomes the first public space tourism company on Monday

Virgin Galactic becomes the first public space tourism company on Monday

5 years ago
Anonymous $xdcOWPpsb_

https://techcrunch.com/2019/10/24/virgin-galactic-becomes-the-first-public-space-tourism-company-on-monday/

Richard Branson’s Virgin Galactic wil find out what the public markets think of its ambitious plan to make commercial space tourism a reality on Monday. The company’s shareholders have approved a merger announced earlier this year with Chamath Palihapitiya’s special Social Capital Hedosophia holding company, and that will take effect Friday with adequate on the NYSE for the newly merged public entity on Monday.

Virgin Galactic and Palihapitiya announced the arrangement back in July, which will involve an $800 million investment in Virgin Galactic. Branson’s Galactic, one of two Virgin-branded space companies (the other is Virgin Orbit, which intends to provide orbital commercial small satellite launch capabilities), will seek to bring paying tourists to sub-orbital space using its SpaceShipTwo spacecraft and modified carrier airplane launch platform.