Richard Branson is preparing Virgin Galactic for a public listing.
The billionaire’s space tourism company will go public as part of a deal with Social Capital Hedosophia Holdings, according to the Wall Street Journal.
Social Capital Hedosophia, a special purpose acquisition company formed by venture capital firms Social Capital and Hedosophia, will reportedly pay $800 million for 49% of Virgin Galactic.
The agreement should help Virgin Galactic raise the money it needs to go head-to-head with space tourism companies such as Jeff Bezos’ Blue Origin and Elon Musk’s SpaceX.
It would be the first publicly listed company trying to get humans to space. Virgin Galactic declined to comment.
