Virgin Galactic Holdings Inc.
Virgin Galactic Completes Repurchase of Convertible Notes and Issues New Debt and Equity
Summary
On December 18, 2025, Virgin Galactic Holdings, Inc. completed the repurchase of $354.6 million in aggregate principal amount of its 2.50% convertible senior notes due 2027. Concurrently, the company issued and sold approximately 2.2 million shares of its common stock and pre-funded warrants in a registered direct offering, and approximately $212.5 million aggregate principal amount of a new series of its 9.80% First Lien Notes due 2028, along with warrants to purchase shares of its common stock, in a private placement. The issuances were made under subscription agreements and repurchase agreements, with the proceeds used for the repurchases. The new notes are guaranteed by subsidiary guarantors and secured by liens on the company's assets.
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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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