SEATTLE: Richard Branson’s space-tourism venture, Virgin Galactic, plans to go public as part of a deal with a special purpose acquisition company (SPAC) created by Social Capital LP Chief Executive Officer Chamath Palihapitiya, a person familiar with the matter said.
The deal was earlier reported by the Wall Street Journal, which said the SPAC, Social Capital Hedosophia Holdings Corp, will invest about $800 million for a 49 per cent stake in Virgin Galactic. — Reuters
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