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  • Tuesday, November 19, 2024

Virgin Orbit, NextGen SPAC Close Merger

Virgin Orbit is set to kick off trading Thursday, Dec. 30, on Nasdaq after it completed its merger with blank check company NextGen Acquisition Corp. II (Nasdaq: NGCA).

Shareholders at special purpose acquisition company NextGen approved the business combination on Tuesday and the combined entity will operate as Virgin Orbit Holdings and list its common stock and warrants on the stock exchange using the ticker symbols “VORB” and “VORBW,” respectively, the companies said in a joint release published Wednesday.

Virgin Orbit Founder Richard Branson and the company’s executive leadership team will ring the Nasdaq opening bell on Jan. 7.

In August, Virgin Orbit agreed to merge with NextGen to become a publicly traded satellite launch services provider.

Virgin Orbit is the maker of LauncherOne rockets that can be air-launched from a customized 747-400 carrier aircraft to bring government and commercial small satellites into space. The company has launched satellites for the Department of Defense and other national security customers.

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