Virgin Galactic closes exchange of $52.5M convertible notes for 17.35M shares, reducing notes by 75%

Virgin Galactic Holdings, Inc

Closed exchange of $52,479,000 principal of 2.50% Convertible Notes due 2027 for 17,350,341 shares and pre-funded warrants.
Outstanding 2027 Notes reduced by ~75% from $70.4M to $17.9M aggregate principal.
Exchange aims to improve liquidity, manage cash, and strengthen balance sheet ahead of Q4 2026 commercial operations.
Pre-funded warrants issued with nominal exercise price of $0.0001, economically equivalent to common shares.
Shares issued under Section 4(a)(2) exemption to qualified institutional buyers and accredited investors.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.