Highest-materiality recent filing
Virgin Galactic closes exchange of $52.5M convertible notes for 17.35M shares, reducing notes by 75%
Closed exchange of $52,479,000 principal of 2.50% Convertible Notes due 2027 for 17,350,341 shares and pre-funded warrants.
Virgin Galactic exchanges ~$52.5M of 2027 convertible notes for shares, reducing outstanding by 75%
Exchanged ~$52.5M principal of 2.50% Convertible Senior Notes due 2027 for common stock/pre-funded warrants.
Virgin Galactic redeems $30.5M of 9.8% notes via 6.7M share issuance
Redeemed $30.5M principal of 9.80% First Lien Notes due 2028 by issuing 6.7M shares on June 10, 2026.
Virgin Galactic issues up to $30.5M in stock to redeem First Lien Notes ahead of schedule
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.
Virgin Galactic redeems $10M of 9.8% notes by issuing 3.77M shares; $202.5M remain
Redeemed $10M of 9.80% First Lien Notes due 2028 on May 18, 2026 via issuance of 3,768,536 common shares.
Virgin Galactic Q1 net loss $65M; cash $251M; flight test on track for Q3 2026
Q1 net loss $65M vs $84M YoY; Adjusted EBITDA -$55M, improving from -$72M.
Q4 2025 net loss $63M vs $76M YoY; adjusted EBITDA $(49)M; free cash flow $(95)M.
Virgin Galactic repurchases ~$354.6M of 2.50% notes; issues $212.5M 9.80% first lien notes
Repurchased ~$354.6M of existing 2.50% convertible notes due 2027, reducing outstanding from $425M to ~$70.4M.
Virgin Galactic repurchases ~$355M in convertibles, issues $203M of 9.8% first lien notes due 2028
Repurchasing ~$354.6M of 2.50% convertible notes due 2027; outstanding reduces from $425M to ~$70.4M.
Virgin Galactic Q3 net loss $64M, cash $424M; first commercial flight on track for Q4 2026
Net loss of $64M, revenue $0.4M flat YoY; adjusted EBITDA $(53)M.
Virgin Galactic Q2 revenue $0.4M, net loss $67M; commercial service on track for 2026
Revenue of $0.4M vs $4.2M YoY; net loss narrowed to $67M from $94M on lower operating expenses.
Base salary rises to $1.25M from $1.125M effective April 1, 2026; target bonus remains 150% of base.
Shareholders approve 5.5M share increase in incentive plan and new 2.5M share ESPP at annual meeting
Approved 5,500,000 additional shares under Third A&R 2019 Plan, total 7,670,437 shares reserved.
Virgin Galactic Q1 2025 net loss $84M; cash $567M; plans commercial spaceflight summer 2026
Revenue $0.5M (down 75% YoY); net loss $84M vs $102M Q1 2024; adjusted EBITDA $(72)M.
Virgin Galactic Q4 net loss $76M, Delta SpaceShip first flight planned summer 2026
Net loss $76M (vs $104M Q4 2023); revenue $0.4M down from $2.8M.
Virgin Galactic announces up to $300M ATM equity offering; terminates prior facility
Enters Open Market Sale Agreement with Jefferies LLC for up to $300M of common stock.
Virgin Galactic Q3 revenue $0.4M, net loss $75M; Delta spaceships on track for 2026
Revenue fell to $0.4M from $1.7M YoY as commercial spaceflights paused for Delta Class production.
Virgin Galactic Q2 2024: revenue $4M, net loss $94M; Delta spaceships on track for 2026
Revenue rose to $4M (up from $2M YoY); net loss narrowed to $94M from $134M.
Virgin Galactic regains NYSE compliance after 1-for-20 reverse stock split
Received NYSE letter on July 1, 2024 confirming compliance with $1.00 minimum average closing price rule.
Virgin Galactic approves 1-for-20 reverse stock split; expands equity plan by 14M shares
Reverse stock split at 1-for-20 ratio approved by board on June 12, filed June 14, effective 5:00 p.m. ET.
Virgin Galactic announces 1-for-20 reverse stock split to meet NYSE minimum bid price
Board approved 1-for-20 reverse split; effective 5:00 p.m. ET June 14, 2024.
NYSE notice on May 29, 2024: SPCE avg. closing price below $1.00 over 30 trading days.
Virgin Galactic reports Q1 net loss $102M, revenue $2M; Galactic 07 set for June 8
Net loss narrowed to $102M from $159M YoY; revenue rose to $2M vs $0.4M.
Virgin Galactic Q4 revenue $3M, net loss $104M; cash $982M, Delta on track for 2026
Q4 2023 revenue $3M (vs $1M Q4 2022); full-year revenue $7M; net loss $104M Q4, $502M FY.
Virgin Galactic Q3 revenue $1.7M, net loss narrows to $105M; cuts 18% of workforce
Q3 revenue $1.7M, up from $0.8M YoY; net loss $105M vs $146M YoY.
Virgin Galactic Q2 revenue $2M, net loss $134M; first commercial flight completed
Revenue $2M (up from $0.4M YoY); net loss $134M vs $111M in Q2 2022.
Virgin Galactic signs $400M ATM equity facility; prior $300M fully used
Enters $400M distribution agreement with Credit Suisse, Morgan Stanley, Goldman Sachs for common stock sales.
Virgin Galactic Chair Evan Lovell dies unexpectedly; Mabus named interim chair
Evan Lovell, Chair of the Board, died on June 20, 2023 after an illness.
Virgin Galactic Q1 net loss $159M, cash $874M; commercial flight on track for late June
Net loss of $159M vs $93M YoY; Adj. EBITDA -$140M vs -$77M.
Raymond Mabus Jr. (former US Navy Secretary) and Diana Strandberg (former Dodge & Cox exec) appointed to board, effective April 21, 2023.
Virgin Galactic Q4 net loss $151M, cash $980M; commercial service on track for Q2 2023
Net loss of $151M in Q4 2022 vs $81M in Q4 2021; full year net loss $500M vs $353M.
Virgin Galactic Q3 net loss widens to $146M; cash $1.1B; on track for Q2 2023 commercial launch
Net loss of $146M vs $48M in Q3 2021; adjusted EBITDA -$129M vs -$68M.
Virgin Galactic establishes at-the-market equity offering program for up to $300M
Up to $300M of common stock may be sold through Agents in ATM offerings.
Virgin Galactic Q2 net loss widens to $111M; commercial service delayed to Q2 2023
Net loss of $111M in Q2 2022 vs $94M in Q2 2021; Adjusted EBITDA -$93M vs -$56M.
On October 29, 2024, Alistair Burns, Senior Vice President, Chief Information Officer of Virgin Galactic Holdings, Inc. (the “Company”), announced his plans to resign from the Company effective November 27, 2024.
On November 9, 2023, upon the recommendation of the Nominating and Corporate Governance Committee, and pursuant to the By-Laws, as amended, of Virgin Galactic Holdings, Inc. (the “Company”), the Company’s Board of Directors (the “Board”) elected Luigi Brambilla as a director, with an initial term expiring at the 2024 annual meeting of the Company’s stockholders.
on August 24, 2023, Dr. Wanda Austin notified the Board and the Company that she is retiring from the Board, effective immediately.
On August 24, 2023, upon the recommendation of the Nominating and Corporate Governance Committee, and pursuant to the By-Laws, as amended, of Virgin Galactic Holdings, Inc. (the “Company”), the Company’s Board of Directors (the “Board”) elected Henio R. Arcangeli, Jr. as a director, with an initial term expiring at the 2024 annual meeting of the Company’s stockholders.
each of Adam Bain and George Mattson notified the Board that he plans to retire from the Board at the end of his current term and will not stand for re-election at the Annual Meeting.
elected Raymond E. Mabus, Jr. and Diana S. Strandberg as directors to fill the vacancies on the Board.
each of Adam Bain and George Mattson notified the Board that he plans to retire from the Board at the end of his current term and will not stand for re-election at the Annual Meeting.
elected Raymond E. Mabus, Jr. and Diana S. Strandberg as directors to fill the vacancies on the Board.
Mr. Mabus was appointed to serve as the Company’s Lead Independent Director.
Evan Lovell was appointed to serve as Chair of the Company’s Board
On January 12, 2023, Virgin Galactic Holdings, Inc. (the “Company”) announced that, effective January 12, 2023, Swami Iyer departed from his position as President of Aerospace Systems, in connection with an internal reorganization.
On July 5, 2022, Michelle Kley, the Company’s Executive Vice President, Chief Legal Officer and Secretary, resigned from the Company effective July 19, 2022.
Max materiality 0.85 · Median 0.65 · Most common event earnings