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The special meeting for stockholders of NextGen Acquisition Corp. II (NGCA) is scheduled for December 28, 2021, at 9:00 a.m. ET to approve a business combination with Vieco USA, Inc., the parent company of Virgin Orbit. The SEC has declared effective NextGen's Registration Statement on Form S-4 regarding this transaction. Upon closure, Virgin Orbit will debut on NASDAQ under the ticker symbol VORB. Both boards have approved the merger, which aims to enhance Virgin Orbit's mission of providing accessible space solutions worldwide.
Astroscale Holdings Inc. has signed a Memorandum of Understanding (MOU) with Virgin Orbit to collaborate on initiatives for sustainable space and on-orbit servicing. The MOU aims for Astroscale to launch up to 10 missions via Virgin Orbit's LauncherOne over the next decade. Both companies will work on policies for space sustainability, including debris removal and international partnerships. This collaboration reflects their commitment to fostering a sustainable space environment as the industry evolves.
Virgin Orbit has successfully launched its LauncherOne rocket, which is now preparing to carry Department of Defense and Polish SatRevolution satellites to orbit from Mojave Air and Spaceport.
The mission, titled Above the Clouds, is scheduled for December 2021 and aims for a 500 km orbit. This marks Virgin Orbit's third launch in 2021, with plans for increased launch frequency in 2022. CEO Dan Hart noted this mission is vital for providing affordable access to low-earth orbit. Key satellites include R&D projects for the DoD and two nanosatellites from SatRevolution.
ANA HOLDINGS has partnered with Virgin Orbit to offer air-launch services in Asia, marking a significant milestone for space launches in the region. The MOU stipulates 20 flights of the LauncherOne rocket from Japan's Oita Prefecture, with plans to establish a LauncherOne-ready spaceport by late 2022, pending regulatory approvals. This partnership aims to cater to the rapidly increasing demand for satellite launches in Japan and Asia.
Virgin Orbit and NextGen Acquisition Corp. II (NGCA) have entered into a merger agreement, aiming for Virgin Orbit to become a publicly traded entity. The merger is projected to yield up to $483 million in cash, including $383 million from NextGen’s trust account and a $100 million commitment through a PIPE. The deal values Virgin Orbit at an enterprise value of approximately $3.2 billion, with closing expected by year-end pending shareholder approval. Upon completion, Virgin Orbit's existing shareholders will retain about 85% ownership, transitioning the company to Nasdaq under the symbol 'VORB.'
NextGen Acquisition Corp. II has priced its initial public offering (IPO) at $10.00 per unit, totaling 35,000,000 units. The shares will trade on Nasdaq under the ticker symbol “NGCAU” starting March 23, 2021. Each unit comprises one Class A ordinary share and one-fifth of a redeemable warrant, with each warrant allowing the purchase of one Class A share at $11.50. The offering is set to close on March 25, 2021. Goldman Sachs and Credit Suisse are the joint book-running managers for this IPO, with a 45-day option for underwriters to purchase an additional 5,250,000 units.
