Virgin Galactic slides on $300 mln share sale
07/11/2024 13:57
** Space tourism company Virgin Galactic's SPCE.N shares fall
~13% to $6.20 premarket
** Company enters sales agreement under which it may offer and
sell its common stock of up to $300 mln
** Plans to use proceeds from the sales to further
accelerate development and production of its spaceflight fleet
** SPCE has jumped 35% from an all-time low of $5.27 in
early August
** YTD, stock has lost 85%
(Reporting by Medha Singh)
((medha.singh@thomsonreuters.com))