Virgin Orbit rocket launch failure to be investigated by UK officials crashed to earth UK officials will work with counterparts in the US to oversee an investigation into the failure of Virgin Orbit’s rocket launch mission from Cornwall. The Space Accident Investigation Authority (CAIS) said it will work alongside the Federal Aviation Administration to “ensure that any relevant safety lessons are learnt”. The organisations will oversee Virgin Orbit’s investigation. [...]
UK enters space race: where to watch the launch of Virgin Orbit’s Cosmic Girl UK SPACE LAUNCH Tonight sees the first launch of a space rocket via UK soil, with an expected launch window starting at 21:45pm tonight. The LauncherOne rocket be attached under the wing of a modified Boeing 747 owned by Virgin Orbit which will take off from Spaceport Cornwall at Newquay Airport. The mission, dubbed ‘Start Me Up’ mission is a collaborative effort [...]
Richard Branson facing US lawsuit is sign of the times for the young space industry virgin galactic The lawsuit Richard Branson is facing in the US over claims he hid Virgin Galactic’s problems from shareholders is a sign of the times, as investors become rattled by a young market’s growing pains. The British billionaire has been accused of defrauding shareholders into overpaying for the space tourism company’s shares, a US judge said [...]
Virgin Orbit ‘opportunistic on the market’ as it eyes new fundraising October 9, 2022 Virgin Orbit’s boss Dan Hart said the satellite launching company is going to be “opportunistic on the market,” as it seeks additional funding rounds following a disappointing SPAC listing. A subsidiary of Richard Branson-backed Virgin Galactic, the firm raised only $228m (£205m) when it listed in December 2021 on the NYSE. However, the initial target [...]
Richard Branson pumps £30m windfall into Virgin Brands October 4, 2022 Richard Branson has invested some £30m worth of royalties back into his Virgin brand. The British billionaire pumped £25m into the Virgin group last year, down from £85m in 2018. The cash is intended to help support the businesses hit hardest by successive Covid-19 lockdowns worldwide, namely Virgin Atlantic. Virgin Galactic, Branson’s lagging space venture, [...]
Virgin Galactic distances itself from chairman after controversial Uyghur comments January 18, 2022 Virgin Galactic has distanced itself from comments made by its chairman yesterday, urging that his views do not reflect that of the company’s. Chairman Chamath Palihapitiya told the All-In Podcast audience that “nobody cares about what’s happening to the Uyghur Muslims.” Venture capitalist Palihapitiya, amidst a discussion of human rights, said “of all the things [...]
London snub: Branson heads for Amsterdam SPAC listing January 7, 2022 The Virgin Group has drawn up plans to list a new special purpose acquisition company (SPAC) in Amsterdam in the coming months, insiders report.
Billionaire Richard Branson sells off another $300m stake in Virgin Galactic November 16, 2021 British billionaire Richard Branson has sold off a further $300m worth of stock in his space venture Virgin Galactic, taking the total offloaded this year to some $600m. The unlocked capital is reportedly set to be pumped into Branson’s travel and leisure businesses, after emergency pandemic restrictions bruised profits. Shares sank more than four per [...]
Richard Branson’s Virgin Orbit to go public through $3.2bn Spac deal August 23, 2021 Sir Richard Branson’s Virgin Orbit will go public through a blank-cheque deal that values the company at $3.2bn (£2.3bn), it confirmed today. The small satellite launch firm will merge with special purpose acquisition company (Spac) NextGen Acquisition Corp. The deal also includes $100m of so-called Pipe (private investment in public equity) funding from backers including [...]
Sir Richard Branson sells $300m of Virgin Galactic stock August 13, 2021 Sir Richard Branson has sold $300m worth of shares in Virgin Galactic, a regulatory filing showed, with the proceeds earmarked to help support the billionaire’s other ventures. The 71-year-old, who last month flew to the edge of space in his firm’s first ever manned flight, sold 10.5m shares, or about 4.0 per cent of the [...]