Virgin Galactic seeks space tourism boost with market launch
Click Like to Follow Fliegerfaust Facebook page to get the News ASAP / Share to share this post now.
July 9, 2019 - by afp for thepeninsulagatar.com
London: Richard Branson's Virgin Galactic will merge with a New York-listed company to become the world's first publicly-traded space tourism venture, the British billionaire's group announced Tuesday.
By embarking on this new chapter, at this advanced point in Virgin Galactic's development, we can open space to more investors and in doing so, open space to thousands of new astronauts," Branson said in a statement.
Virgin Galactic and public-investment vehicle Social Capital Hedosophia will merge, with SCH expected to own up to 49 percent of the combined company, the statement said.
"Upon closing of the transaction, which is expected in the second half of 2019, VG will be introduced as the first and only publicly traded commercial human spaceflight company," it added...