Virgin Galactic issues up to $30.5M in stock to redeem First Lien Notes ahead of schedule

Virgin Galactic Holdings, Inc

On June 2, 2026, Virgin Galactic issued notice to redeem up to $30.5M of its 9.80% First Lien Notes due 2028, payable in common stock.
$10M already redeemed May 18; remaining mandatory redemption of $20.4M due Sept 30, 2026, plus $10.1M due Dec 31, 2027 are targeted.
Redemption price at par plus accrued interest, paid via shares based on 5-day VWAP with a floor price; partial redemption possible if price below floor.
Successful redemption would eliminate all mandatory principal payments until March 31, 2028, and reduce ongoing cash interest obligations.
Company expects to begin commercial operations in Q4 2026 and cites improved liquidity and capital management as rationale.

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