Although Boeing has an internal division focused on the space sector (the driving force behind the development of the problematic Starliner), it does not have its own launch systems, depending on United Launch Alliance (ULA) for its launch operation.
Now, as reported by Aviacionline sister site AEROIN, this situation could be about to change. The U.S. manufacturer is part of a group that has committed to invest in Virgin Orbit, the space launch company owned by Sir Richard Branson. The English tycoon also owns Virgin Galactic, Virgin group’s space tourism subsidiary.
Virgin Orbit owns a Boeing 747-400 (N744VG, called Cosmic Girl) that previously carried passengers on Virgin Atlantic, also owned by Branson. After retiring from commercial service it was adapted to fit rockets under its left wing, in an anchor point originally designed to carry spare engines.
Now, as it emerges from information gathered by Seattle Times, Virgin Orbit is set to launch its initial public offering (IPO) on the NASDAQ tech market. The IPO will be conducted as a reverse merger with NextGen Acquisition Corp. II.
The space company would be valued at approximately $3.2 billion. Virgin Orbit’s investors, who have committed $100 million, include Boeing and AE Industrial Partners. The merger is expected to provide the company with $483 million in cash, which will bolster its capital until 2023, when regular launch operations and stable cash flows are expected to begin.
