Sir Richard Branson’s Virgin Orbit valued at $3.2bn in ‘blank cheque’ deal

Sir Richard Branson’s Virgin Orbit valued at $3.2bn in ‘blank cheque’ deal

Sir Richard Branson's Virgin Orbit has been valued at $3.2bn in a deal to take the satellite launch company public on the US stock market.

The company confirmed plans first revealed by Sky News to merge with Nasdaq-listed special purpose acquisition company (SPAC) NextGen II.

Virgin Orbit is currently 80% owned by Sir Richard's Virgin Group and 20% by Mubadala, the Abu Dhabi sovereign fund.