Virgin Galactic Holdings Inc.
Virgin Galactic Announces 1-for-20 Reverse Stock Split
Summary
On June 12, 2024, Virgin Galactic Holdings, Inc. announced that its board of directors approved a 1-for-20 reverse stock split aimed at increasing the per-share market price to meet NYSE listing requirements. The reverse stock split is expected to become effective on June 14, 2024, after market close, with trading on a split-adjusted basis to commence on June 17, 2024.
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About Virgin Galactic Holdings Inc.
Virgin Galactic Holdings Inc. operates as an aerospace and space travel company. Its primary function is to develop commercial spacecraft and aim to provide suborbital spaceflights for private individuals and researchers. The company's notable features include its focus on pioneering human spaceflight for non-professional astronauts and offering an unparalleled experience of space viewings above Earth's atmosphere. Virgin Galactic Holdings, a part of the Virgin Group, plays a crucial role in advancing the nascent space tourism industry, seeking to make space more accessible to the general public. Headquartered in Mojave, California, the company leverages innovative space technologies, such as its spaceship Unity, to push the boundaries of private space exploration. By focusing on safety and an unforgettable customer experience, Virgin Galactic distinguishes itself in the market. As the first publicly traded commercial spaceflight company, it represents a significant milestone in the evolution of space travel and aims to create a new market sector, contributing to the broader exploration of space and scientific research.
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