Richard Branson’s Virgin Orbit has hired bankers to help it go public this year through a special-purpose acquisition company, aiming for a valuation for the satellite launching startup of up to $3 billion, The Wall Street Journal reports, citing people familiar with the matter.
The move represents the latest effort by Mr. Branson to take advantage of a recent boom in similar, blank-check listings. His Virgin Group has played on both sides of the SPAC craze: In 2019, he listed Virgin Galactic Holdings by merging it with a SPAC. Read more.
