NEW YORK, Oct 29 (Bernama-BUSINESS WIRE) — Virgin Galactic (“VG”), a vertically integrated aerospace company, and Social Capital Hedosophia (“SCH”), a public investment vehicle, today announced the completion of their previously announced business combination. The resulting company is named Virgin Galactic Holdings, Inc. (“VGH”) and its common stock, units and warrants are expected to commence trading on the New York Stock Exchange under the new ticker symbol “SPCE”, ”SPCE.U” and “SPCE WS”, respectively, on October 28, 2019. The Company manufactures its space vehicles in Mojave, California, through its aerospace development subsidiary The Spaceship Company, with commercial operations centered at Spaceport America in New Mexico.
VG already has customer reservations from more than 600 people in 60 countries representing approximately $80 million in total collected deposits, and over $120 million of potential revenue. The completion of this merger and trading as a public company are the next milestones on the path towards building a thriving commercial service business and investing appropriately for the future.
