---
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"
generated_at: "2026-05-16T12:45:31.866277+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Virgin Galactic repurchases ~$354.6M of 2.50% notes; issues $212.5M 9.80% first lien notes

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-325124
- JSON: https://secwatch.observer/filing/0001193125-25-325124.json
- Plain text: https://secwatch.observer/filing/0001193125-25-325124.txt

## Key facts
- Debt Financings
  Virgin Galactic Holdings, Inc incurred senior notes of $212.5 million with Wilmington Savings Fund Society, FSB at 9.80% maturing December 31, 2028.
  - Instrument: senior notes
  - Principal: $212.5 million
  - Counterparty: Wilmington Savings Fund Society, FSB
  - Rate: 9.80%
  - Maturity: December 31, 2028
  - Event: incurrence
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1706946/000119312525325124/0001193125-25-325124-index.htm

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