Virgin Galactic redeems $10M of 9.8% notes by issuing 3.77M shares; $202.5M remain

Virgin Galactic Holdings, Inc

Redeemed $10M of 9.80% First Lien Notes due 2028 on May 18, 2026 via issuance of 3,768,536 common shares.
Share count determined by 10-day VWAP as per Indenture; implied price ~$2.65/share.
Remaining principal of First Lien Notes approximately $202.5M after the partial redemption.
Part of capital management to reduce cash interest obligations ahead of Q4 2026 commercial ops.
Shares issued in reliance on Section 4(a)(2) exemption from registration.

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