Space-tourism biz Virgin Galactic will be going public after merger

World News

July 9, 2019 - 10:42 AM

LONDON (AP) — Richard Branson’s space-tourism venture, Virgin Galactic, is planning to go public, creating the first listed human spaceflight firm.

Virgin Galactic said today it is merging with Social Capital Hedosophia, whose CEO, Chamath Palihapitiya, will become chairman of the combined entity. The value of the merger was put at $1.5 billion.

“We are at the dawn of a new space age, with huge potential to improve and sustain life on Earth,” Branson said. “I am delighted that SCH has decided to become such an important part of our amazing journey. They share our dreams and together we will make them reality.”

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