The private spaceflight company was able to go public on New York Stock exchange on October 28th and this was after the completion of the merger with investment firm by the name Social Capital Hedosophia during the last week. The new company by the name, Virgin Galactic Holdings, Inc., is the trading common stock, units as well as warrants on NYSE under ticker symbols ‘SPCE WS’, ‘SPCE’ as well as ‘SPCE.U’ respectively.
The Virgin Galactic is going to become the world’s first as well as only publicly traded company on the human spaceflight category. This was said by George Whitesides, the Chief Executive Officer of the Virgin Galactic Holdings. For the first tie, anyone is going to have the chance to be able to invest in the human spaceflight company which is changing the market in a big way. Virgin Galactic has worked tirelessly to be able to change the concept of the human spaceflight into a reality. The IP, as well as engineering skills alongside talent that we have in the business, makes them very confident as well as excited about the future.
Virgin Galactic company was started in the year 2004 by the British Billionaire by the name Sir Richard Branson to be able to fly the passengers on the suborbital trips to the space, half a dozen at a time. This company’s SpaceShipTwo passenger space liner as well as its carrier plane WhiteKnight are based on the smaller scale version that was developed by aerospace company by the name Scaled Composites and was able to win $10 million (ten million dollars) Ansari X Prize for the crewed suborbital as well as reusable spaceflight in the year 2004. Branson thanked his fellow investors, employees of the VG as well as Spaceship company, the business partners as well as customers.
SpaceShipTwo vehicles have been made by The Spaceship Company and have been designed to propel 6 passengers and 2 pilots into the suborbital space from the midair, hence detaching from the WhiteKnightTwo mothership high above the Spaceport America in the New Mexico as well as rocketing upward. After several minutes of weightlessness, spacecraft is going to re-enter the Earth’s atmosphere and glide back to ground for the runaway landings. The tickets go for a quarter a million ($250,000) dollars for every seat with the passenger flights expected to start in the year 2020. Up to date, the virgin Galactic has been able to launch 2 spaceflights using SpaceShipTwo by the name VSS Unity.
This post was originally published on Downey Magazine