Virgin Galactic repurchases ~$355M in convertibles, issues $203M of 9.8% first lien notes due 2028

Virgin Galactic Holdings, Inc

Repurchasing ~$354.6M of 2.50% convertible notes due 2027; outstanding reduces from $425M to ~$70.4M.
Issuing ~$45.6M of common stock and pre-funded warrants in a registered direct offering.
Issuing ~$202.6M of 9.80% first lien notes due 2028, secured by substantially all assets.
Issuing purchase warrants for up to ~30.3M shares at 155% of stock purchase price, cash-only exercise.
Total indebtedness reduced from $425M to ~$273M; debt maturity extended to 2028 to align with Spaceline growth.

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