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WSJ News Exclusive | Boeing Plans Investment in Virgin Orbit’s $3.2 Billion SPAC Listing


Boeing Co. has dedicated to speculate in Richard Branson’s Virgin Orbit as a part of the satellite-launching startup’s deliberate $3.2 billion SPAC itemizing later this yr, in keeping with an individual acquainted with the matter.

Virgin Orbit plans to record on the Nasdaq inventory market by merging with NextGen Acquisition Corp., a special-purpose acquisition firm run by former Goldman Sachs banker George Mattson, in keeping with this particular person.

Boeing’s deliberate funding, not beforehand reported, is meant to be made via a SPAC-related fundraising spherical referred to as a non-public funding in public fairness, or PIPE. That fundraising has garnered a complete of $100 million in commitments, this particular person mentioned. It isn’t clear how a lot of that Boeing has dedicated or whether or not Boeing will likely be investing instantly or via a partnership with one other fund. Boeing didn’t instantly return requests for remark made early Monday.

Personal-equity fund AE Industrial Companions LP will even make investments on this PIPE, in keeping with the particular person acquainted with the matter. Boeing mentioned earlier this month that its venture-capital fund would accomplice with AE Industrial Companions in investments. AE Industrial Companions additionally didn’t instantly return a request for remark early Monday.

The main points of the itemizing may very well be introduced as quickly as Monday, this particular person mentioned.

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