Virgin Orbit edges up after touching record low

Virgin Orbit Holdings

06/04/2023 10:57

** Shares in satellite launch company Virgin Orbit Holdings
Inc  VORB.O  up 26.1% at 25 cents before the bell 
    ** VORB touched record low of 12 cents earlier this week
after co filed for Chapter 11 bankruptcy protection following a
struggle to secure long-term funding post a failed rocket launch
in January
    ** Virgin Orbit went public in 2021 via a SPAC deal at a
roughly $3 bln valuation; it was spun off from billionaire
Richard Branson's space tourism firm Virgin Galactic Holdings
Inc  SPCE.N  in 2017
    ** As of last close, VORB was down ~89% YTD; it had a market
cap of ~$67 mln
    

 (Reporting by Eva Mathews in Bengaluru)
 ((Eva.mathews@thomsonreuters.com))