Virgin Orbit near deal to raise $200M from venture capital investor
FOX Business has reached out to Virgin Orbit for comment.in recent months and is exploring strategic options. It was also in talks for fresh funding.
The deal involving Virgin Orbit and Matthew Brown reportedly could be completed by Friday, according to the term sheet, but is not binding. A view of Richard Branson's Virgin Orbit, with a rocket underneath the wing of a modified Boeing 747 jetliner. Virgin Orbit's board agreed to move forward with the deal at a meeting held on Tuesday, a person familiar with the matter told Reuters.into common shares at the volume weighted average price in the 30 days before the deal is signed.Virgin Investments is currently the largest shareholder with a stake of nearly 75%.
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