Virgin Galactic Is Going Public to Fund Its Expensive Tourist Spaceflights

It’ll keep the company running until commercial launches begin. July 9, 2019 3 min read This story originally appeared on Engadget Space tourism company Virgin Galactic has announced that it will go public via a merger with an investment firm. Its new partner, Social Capital Hedosophia (SCH), will invest $800 million in exchange for a 49 percent stake and take Virgin Galactic public later in 2019 — a first for a spaceflight company. The merger and investments will keep Virgin operating until it can start commercial operations and begin generating its own…