Branson to list Virgin Orbit on Nasdaq through Boeing-backed SPAC deal

Reverse merger with NextGen Acquisition Corp will value the satellite-launch company at €2.7bn

Merger is expected to provide the new company with $483m in cash proceeds, bolstering its capital until regular launch operations – and more stable revenue streams – are expected in 2023.

Richard Branson’s Virgin Orbit has agreed to go public through a reverse merger with NextGen Acquisition Corp that will value the satellite-launch company at $3.2bn (€2.7bn).

Investors including Boeing and AE Industrial Partners committed $100m to Virgin Orbit through a private investment in public equity. The merger is expected to provide the new company with $483m in cash proceeds, bolstering its capital until regular launch operations – and more stable revenue streams – are expected in 2023.