share_log

Virgin Galantic stocks dipping 11.85% as it files for $500m shelf offering of common stock

Benzinga Real-time News ·  Jul 12, 2021 10:43  · Movers

20210712000104028e887ad447f.png

$Virgin Galactic Holdings Inc(SPCE.US)$fell 11.85% today. The sudden drop was caused by its filing for a $500M shelf offering of common stock "at the market offering".

20210712000104015320c5636e6.png

The actual number of shares that may be issued will vary depending on the sales price under this offering. 

The company intends to use the net proceeds from this offering for general corporate purposes, including working capital, general and administrative matters and capital expenditures for manufacturing capabilities, development of our spaceship fleet and other infrastructure improvements.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment