Virgin Orbit and Brown began deal talks last week, around the same time the company announced it was pausing operations and furloughing most employees.
Virgin Orbit is in final talks to raise funds from Texas-based investor Matthew Brown, amounting to an injection of $200 million.
Virgin Orbit and Brown began deal talks last week, around the same time the company announced it was pausing operations and furloughing most employees to seek a financial lifeline. Brown would get a controlling stake in the rocket builder through the deal, which could close as soon as Thursday.A general view of Cosmic Girl, a repurposed Boeing 747 aircraft carrying the LauncherOne rocket under its left wing, as final preparations are made at Cornwall Airport Newquay on January 9, 2023 in Newquay, United Kingdom.is in final talks to raise funds from Texas-based investor Matthew Brown, two people familiar with the deal told CNBC, amounting to an injection of $200 million.
Virgin Orbit and Brown began deal talks last week, one of the people said, around the same time the company announced it was pausing operations and furloughing most employees to seek a financial lifeline. Brown would get a controlling stake in the rocket builder, according to the people, who asked to remain anonymous to discuss private negotiations.
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Exclusive: Virgin Orbit near deal to raise $200 mln from Matthew Brown-term sheetBillionaire Richard Branson's cash-strapped Virgin Orbit Holdings Inc is near a deal for a $200 million investment from Texas-based venture capital investor Matthew Brown via a private share placement, according to a term sheet seen by Reuters.
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Exclusive: Virgin Orbit near deal to raise $200 mln from Matthew BrownBillionaire Richard Branson's cash-strapped Virgin Orbit Holdings Inc is near a deal for a $200 million investment from Texas-based venture capital investor Matthew Brown via a private share placement, according to a term sheet seen by Reuters.
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