Virgin Galactic Announces At-The-Market Equity Program
Summary
Company Intends to Use Any Proceeds to Further Accelerate the Expansion of Its Next Generation Spaceflight Fleet, Including the Production of an Additional MothershipORANGE COUNTY, Calif., November 07, 2024--(BUSINESS WIRE)--Virgin Galactic Holdings, Inc. (NYSE: SPCE) ("Virgin Galactic" or the "Company") today announced that it has entered into a sales agreement under which it may offer and sell shares of its common stock (the "Shares") having an aggregate offering price of up to $300 million from time to time pursuant to an "at the market" program (the "ATM Program").The Company intends to use the net proceeds from any sales of its common stock under the ATM Program to further accelerate the development and production of its next-generation spaceflight fleet, including an additional mothership and third and fourth Delta Class spaceships. You may also obtain these documents free of charge when they are available by visiting EDGAR on the SECs website at www.sec.gov.There can be no assurance that the Company will sell any shares under the ATM Program. Scale and profitability are driven by next generation vehicles capable of bringing humans to space at an unprecedented frequency with an industry-leading cost structure. These statements are based on managements current assumptions, are neither promises nor guarantees, and involve known and unknown risks, uncertainties and other important factors that may cause the Companys actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.