The business of space just got a little bigger. Richard Branson’s Virgin Galactic, a startup dedicated to pioneering space tourism, will soon become a public company.
News of the decision came via a source in contact with The Wall Street Journal. The paper states that, “Social Capital Hedosophia Holdings Corp. , a special-purpose acquisition company, or SPAC, is planning to invest roughly $800 million in Virgin Galactic for a 49% stake.”
The deal, if all goes according to plan, will make Virgin Galactic the first publicly traded space tourism company on Earth.
Cover image via Virgin Galactic