I’m glad that Virgin Galactic and Branson walked away from the funding from Saudi Arabia, but this route still has some oddities—a merger to get investment, going public not by going public themselves, but by merging with an already-publicly traded company, and so on.
Becoming publicly traded feels like a bad plan for a company like Virgin Galactic, which just adds to my list of concerns about them and their operations.
Regardless, it’s clear they have been in need of massive funding. This deal brings in $800 million which they’ll almost certainly be using to build more vehicles (SpaceShipTwo and White Knight Two) and expand to multiple locations.
They’ll need to if they want to meet their insanely hopeful predictions for growth and profitability.