Virgin Orbit files for bankruptcy protection as it seeks a buyer
Virgin Orbit's late-stage discussions with Texas-based investor Matthew Brown, who was going to put $200 million into the company, reportedly broke down. It was perhaps the perfect deal for the launch provider, since that amount would've been enough to give the investor a controlling stake.
On March 30th, the company officially shuttered its space launch operations due to lack of funding. It flew a total of six flights from 2020, though only four of which were able to put satellites in orbit. According to, Virgin Orbit said it expected to report $33.1 million in revenue and a net loss of around $191 million for the 2022 fiscal year.
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