Welcome to our dedicated page for Virgin Galactic Holdings news (Ticker: SPCE), a resource for investors and traders seeking the latest updates and insights on Virgin Galactic Holdings stock.
Virgin Galactic Holdings, Inc. (symbol: SPCE) is a trailblazer in commercial space travel, being the world's first commercial spaceline. The company is revolutionizing space access by developing vehicles designed to fly private astronauts, research experiments, and satellites into space. With a vision of democratizing space for the benefit of life on Earth, Virgin Galactic offers an unparalleled astronaut experience that includes out-of-seat weightlessness and breathtaking views of Earth from space.
At the core of Virgin Galactic’s offerings is SpaceShipTwo, a reusable spaceplane engineered by aerospace pioneer Scaled Composites. This sophisticated vehicle is built to carry two pilots and up to six astronauts, or more than 1,000 pounds of scientific experiments, on commercial flights from Spaceport America in New Mexico—the world’s first purpose-built commercial spaceport.
In addition to human spaceflight, Virgin Galactic is advancing the field of small satellite launches with LauncherOne. This dedicated launch vehicle is designed to transport smaller satellites, typically weighing between 200-300 kilograms, into Earth orbit at historically low prices. LauncherOne expands the company’s offerings by providing cost-effective access to space for a variety of missions.
Virgin Galactic’s wholly-owned manufacturing arm, The Spaceship Company, is integral to its operations, producing advanced air and space vehicles. The company’s vertically integrated structure ensures seamless development and execution of its projects. Recently, Virgin Galactic has achieved significant milestones, including successful test flights and partnerships aimed at enhancing its technological capabilities and service offerings.
Financially, Virgin Galactic is focused on scaling its operations and achieving long-term profitability. The company continues to invest in research and development to enhance its spaceflight systems and customer experience. Key partnerships and strategic alliances are also pivotal in driving future growth and innovation.
Virgin Galactic's mission to make space travel accessible is not only about adventure but also about contributing to scientific research and technological advancement. By enabling private astronauts and researchers to explore the final frontier, the company is opening new possibilities for life on Earth and beyond.
Virgin Galactic Holdings (NYSE: SPCE) has announced the date for its second quarter 2024 financial results release and conference call. The company will report its financial results after U.S. markets close on Wednesday, August 7, 2024. A conference call to discuss the results is scheduled for 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) on the same day. Investors and interested parties can access a live webcast and replay of the conference call on Virgin Galactic's Investor Relations website at investors.virgingalactic.com.
Virgin Galactic Holdings, Inc. (NYSE: SPCE) has announced the approval of inducement restricted stock unit awards for two new non-executive employees. The Compensation Committee of Virgin Galactic's Board of Directors granted these awards, covering a total of 3,089 shares of Virgin Galactic common stock, effective July 15, 2024. These awards, granted under the company's 2023 Employment Inducement Incentive Award Plan, are designed to attract new talent to the company.
The restricted stock units will vest over a four-year period, with 25% vesting on the first anniversary of the grant date and the remaining 75% vesting quarterly over the next three years, subject to continued employment. This announcement is in compliance with NYSE Listing Rule 303A.08, which requires public disclosure of such inducement awards.
Virgin Galactic (NYSE: SPCE) announced the completion of its new manufacturing facility in Phoenix, Arizona. The facility, designed for the assembly of next-generation Delta spaceships, received its certificate of occupancy and is set to begin operations in Q1 2025. The initial team is currently preparing the facility to receive tooling by Q4 2024, followed by major subassemblies like the wing and fuselage in 2025. Ground testing in Phoenix will precede the transportation of completed ships to Spaceport America, New Mexico for flight tests. Commercial operations are expected to start in 2026. The multiuse facility, equipped with two hangars and supported by digital twin technology, aims to enhance efficiency and reliability. The Delta spaceships will accommodate up to six private passengers and are projected to conduct up to eight missions a month.
Virgin Galactic has secured a new contract with the International Institute for Astronautical Sciences (IIAS) to conduct a space research mission on a Delta Class spaceship. The mission will involve three IIAS research astronauts, including bioastronautics researcher Kellie Gerardi, who previously flew on Galactic 05. The upcoming mission will build on the results from Galactic 05, which successfully tested healthcare technologies and fluid dynamics in microgravity. The Delta spaceships, set to commence service in 2026, can conduct up to eight missions per month, significantly increasing Virgin Galactic's capacity for space research.
Virgin Galactic (NYSE: SPCE) announced a new employee inducement award under NYSE Listing Rule 303A.08.
The Compensation Committee approved a time-based restricted stock unit award of 1,741 shares, effective June 15, 2024, following a 1-for-20 reverse stock split effective June 14, 2024. The award falls under Virgin Galactic's 2023 Employment Inducement Incentive Award Plan and will vest over four years. 25% of the shares vest on the first anniversary of the grant date, with the remaining 75% vesting over the next 12 quarters, contingent on continued service.
Virgin Galactic Holdings (NYSE: SPCE) announced a 1-for-20 reverse stock split, effective June 14, 2024, after trading closes. The stock will trade on a split-adjusted basis from June 17, 2024, under the ticker 'SPCE' with the new CUSIP number 92766K 403. The split aims to increase per-share price to meet NYSE's minimum bid requirements. Stockholders approved this at the annual meeting on June 12, 2024. No fractional shares will be issued; cash payments will be made instead. Adjustments will be made to equity awards and stock issuances under existing agreements and incentive plans. Continental Stock Transfer & Trust will manage the exchange. More details are available in the company's proxy statement on the SEC website.
Virgin Galactic has completed its 12th successful spaceflight, 'Galactic 07,' marking its second spaceflight of 2024. The mission carried one researcher and three private astronauts, including Turkish astronaut Tuva Cihangir Atasever. The flight conducted several experiments for space-based scientific research. The company has now completed seven research missions. Virgin Galactic's spacecraft, VSS Unity, made its final commercial flight and achieved significant milestones, reaching an apogee of 54.4 miles and a top speed of Mach 2.96. As VSS Unity retires, the company focuses on developing its next-generation Delta Class spaceships, set to enter commercial service in 2026.
Virgin Galactic Holdings (NYSE: SPCE) has announced its participation in TD Cowen's 8th Annual Future of the Consumer Conference on June 5, 2024, at 10:50am ET.
CEO Michael Colglazier will engage in a fireside chat, which will be webcast live and accessible on the Investors Relations section of Virgin Galactic's website.
Virgin Galactic (NYSE: SPCE) announced it received a notice from the NYSE on May 29, 2024, indicating its average closing stock price fell below $1.00 over a 30-day period, risking delisting.
The company plans to regain compliance by proposing a reverse stock split at its annual meeting on June 12, 2024. Virgin Galactic remains focused on delivering Delta Class spaceships for commercial service by 2026 and achieving long-term profitable growth. The stock will continue trading on the NYSE during the six-month compliance period.
Virgin Galactic, listed on the NYSE under the symbol SPCE, has announced an inducement award under NYSE Listing Rule 303A.08. The Compensation Committee approved a restricted stock unit award of 24,205 shares to a new non-executive employee. Effective May 15, 2024, this award is part of the 2023 Employment Inducement Incentive Award Plan, designed to attract new employees. The stock units will vest over four years, with 25% vesting on the first anniversary and the remaining 75% vesting quarterly over three years, contingent on continued service with the company.
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