Virgin Galactic to redeem up to $10M of 9.80% notes due 2028 with stock

Virgin Galactic Holdings, Inc

Up to $10M principal of 9.80% First Lien Notes due 2028 to be redeemed on May 18, 2026.
Redemption price paid in common stock based on 10-day VWAP; if VWAP below floor, no redemption that day.
Partial redemption reduces mandatory $30,392,486 redemption required by September 30, 2026.
Expected to reduce cash interest costs; part of cash preservation strategy ahead of Q4 2026 commercial ops.

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