Boeing has committed to invest in Richard Branson’s Virgin Orbit as part of the satellite-launching startup’s planned $3.2 billion SPAC listing later this year, according to a person familiar with the matter
Boeing Co. has committed to invest in Richard Branson’s Virgin Orbit as part of the satellite-launching startup’s planned $3.2 billion SPAC listing later this year, according to a person familiar with the matter.on the Nasdaq stock market by merging with NextGen Acquisition Corp., a special-purpose acquisition company run by former Goldman Sachs banker George Mattson, according to this person.
Boeing’s planned investment, not previously reported, is intended to be made through a SPAC-related fundraising round called a private investment in public equity, or PIPE. That fundraising has garnered a total of $100 million in commitments, this person said. It isn’t clear how much of that Boeing has committed or whether Boeing will be investing directly or through a partnership with another fund. Boeing didn’t immediately return requests for comment made early Monday.
Private-equity fund AE Industrial Partners LP will also invest in this PIPE, according to the person familiar with the matter. Boeing said earlier this month that its venture-capital fund would partner with AE Industrial Partners in investments. AE Industrial Partners also didn’t immediately return a request for comment early Monday.To Read the Full Story
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