Virgin Orbit to go public through SPAC at $3.2 billion valuation

Virgin Orbit is to become publicly traded on Nasdaq through a merger with SPAC NextGen Acquisition Corp. II valuing the company at US $3.2 billion. The SPAC trades on the Nasdaq under ticker “NGCA” until the end of the year. The shares will then convert to “VORB”, as the combined company will keep the Virgin Orbit name. The agreement is to raise US $483 million for the combined company.