SPCE

Carrier aircraft VMS Eve releases spacecraft VSS Unity before firing its rocket engine during the Unity 25 spaceflight on May 25, 2023.Virgin GalacticVirgin Galactic plans to pause spaceflight operations next year to focus resources on developing its next-generation Delta-class spacecraft, the company announced Wednesday.Shares of Virgin Galactic surged 19.2% in heavy trading volume on Thursday to close at $1.86 a share, with the stock down 47% year-to-date.Although Virgin Galactic has been flying commercial missions at a…

Carrier aircraft VMS Eve releases spacecraft VSS Unity before firing its rocket engine during the Unity 25 spaceflight on May 25, 2023.Virgin GalacticVirgin Galactic has successfully raised $300 million via an "at the market" offering of common stock, the company disclosed in a securities filing on Thursday.Now, the space tourism company aims to raise an additional $400 million through a subsequent stock offering, as Virgin Galactic looks to fund the development and expansion of its spacecraft fleet.Shares of Virgin…

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Richard Branson’s Virgin Orbit Holdings Inc. has filed for bankruptcy after the satellite-launch venture said it wasn’t able to secure sufficient funding to continue in what has become a hypercompetitive market. The company on Tuesday said it was working to sell itself. Just three months ago, it was poised to make history by delivering the first satellites into orbit from the billionaire’s home country of the U.K.—before the high-profile launch ended in the destruction of its satellite…

Two months ago, Richard Branson’s Virgin Orbit VORB -9.14% Holdings Inc. was poised to make history delivering the first satellites into orbit from the billionaire’s home country of the U.K.That high-profile launch from Cornwall, England, went badly, ending in the destruction of its satellite payload and triggering a probe into what went wrong.  Now, Virgin Orbit is in talks with two financial institutions about a bailout and has furloughed staff,…

An aerial view of carrier aircraft VMS Eve, left, and spacecraft VSS Unity, at Spaceport America in New Mexico on Feb. 27, 2023.Virgin GalacticVirgin Galactic said on Tuesday it remains on track to resume spaceflights in the coming months after completing upgrades to its carrier aircraft and spacecraft.The update came alongside the company's fourth-quarter results, which showed losses roughly in line with its previous quarter."Our near-term objective for commercial spaceline operations is to safely deliver recurring…