---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-311947"
form_type: "8-K"
ticker: "SPCE"
cik: "0001706946"
company_name: "Virgin Galactic Holdings, Inc"
filed_at: "2025-12-09T23:59:59+00:00"
generated_at: "2026-05-16T13:48:35.217760+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-25-311947
- form_type: 8-K
- ticker: SPCE
- cik: 0001706946
- company_name: Virgin Galactic Holdings, Inc
- filed_at: 2025-12-09T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1706946/000119312525311947/0001193125-25-311947-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1706946/000119312525311947/d80839d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-311947
- JSON: https://secwatch.observer/filing/0001193125-25-311947.json
- Plain text: https://secwatch.observer/filing/0001193125-25-311947.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.