{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-25-325124","form_type":"8-K","ticker":"SPCE","cik":"0001706946","company_name":"Virgin Galactic Holdings, Inc","filed_at":"2025-12-18T23:59:59+00:00","discovered_at":"2026-05-14T18:02:40.221259+00:00","generated_at":"2026-05-16T12:45:31.866277+00:00","sec_items":["1.01","2.03","3.02","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Virgin Galactic repurchases ~$354.6M of 2.50% notes; issues $212.5M 9.80% first lien notes","bullets":["Repurchased ~$354.6M of existing 2.50% convertible notes due 2027, reducing outstanding from $425M to ~$70.4M.","Raised cash via registered direct offering of 2.2M shares and pre-funded warrants for 8.4M shares.","Issued $212.5M of 9.80% First Lien Notes due 2028 in private placement, plus warrants to purchase 31.7M shares at $6.696.","New Notes secured by first-priority liens on substantially all assets; mandatory redemption of ~$30.4M by Sep 30, 2026.","No underwriting fees; transactions closed December 18, 2025."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-25-325124","json":"https://secwatch.observer/filing/0001193125-25-325124.json","markdown":"https://secwatch.observer/filing/0001193125-25-325124.md","text":"https://secwatch.observer/filing/0001193125-25-325124.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1706946/000119312525325124/0001193125-25-325124-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1706946/000119312525325124/d667551d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T12:45:31.866277+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"b7de8b57b4a917ce351845f3e98429aeebf5d8ac","claim":"Virgin Galactic Holdings, Inc incurred senior notes of $212.5 million with Wilmington Savings Fund Society, FSB at 9.80% maturing December 31, 2028.","evidence_excerpt":"the Company issued and sold for cash, in a private placement exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”), (i) approximately $212.5 million aggregate principal amount of a new series of its 9.80% First Lien Notes due 2028 (the “New Notes”)","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1706946/000119312525325124/0001193125-25-325124-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$212.5 million"},{"label":"Counterparty","value":"Wilmington Savings Fund Society, FSB"},{"label":"Rate","value":"9.80%"},{"label":"Maturity","value":"December 31, 2028"},{"label":"Event","value":"incurrence"}]}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}