Virgin Orbit and Brown began deal talks last week, around the same time the company announced it was pausing operations and furloughing most employees.
Virgin Orbit is in final talks to raise funds from Texas-based investor Matthew Brown, amounting to an injection of $200 million.
Virgin Orbit and Brown began deal talks last week, around the same time the company announced it was pausing operations and furloughing most employees to seek a financial lifeline. Brown would get a controlling stake in the rocket builder through the deal, which could close as soon as Thursday.A general view of Cosmic Girl, a repurposed Boeing 747 aircraft carrying the LauncherOne rocket under its left wing, as final preparations are made at Cornwall Airport Newquay on January 9, 2023 in Newquay, United Kingdom.is in final talks to raise funds from Texas-based investor Matthew Brown, two people familiar with the deal told CNBC, amounting to an injection of $200 million.
Virgin Orbit and Brown began deal talks last week, one of the people said, around the same time the company announced it was pausing operations and furloughing most employees to seek a financial lifeline. Brown would get a controlling stake in the rocket builder, according to the people, who asked to remain anonymous to discuss private negotiations.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Exclusive: Virgin Orbit near deal to raise $200 mln from Matthew Brown-term sheetBillionaire Richard Branson's cash-strapped Virgin Orbit Holdings Inc is near a deal for a $200 million investment from Texas-based venture capital investor Matthew Brown via a private share placement, according to a term sheet seen by Reuters.
Read more »
Exclusive: Virgin Orbit near deal to raise $200 mln from Matthew BrownBillionaire Richard Branson's cash-strapped Virgin Orbit Holdings Inc is near a deal for a $200 million investment from Texas-based venture capital investor Matthew Brown via a private share placement, according to a term sheet seen by Reuters.
Read more »
Virgin Orbit nears deal to raise $200M from venture capital investorRichard Branson's Virgin Orbit is reportedly close to a deal for a $200 million investment from investor Matthew Brown.
Read more »
Virgin Orbit Reportedly Preparing for Insolvency in Wake of Rocket FailureThe Richard Branson-founded company paused all operations and furloughed most of its staff last week.
Read more »
Virgin Orbit Scrambles to Avoid Bankruptcy as Deal Talks ContinueVirgin Orbit senior leadership held daily talks with potential investors through the weekend, people familiar with the matter told CNBC.
Read more »
Virgin Orbit eyes options as it works to generate cash flow: reportLaunch company Virgin Orbit is going through some tough financial times, according to media reports.
Read more »