After its billionaire founder propelled himself to the edges of space, Virgin Galactic (NYSE:SPCE) is seeking to sell millions of dollars worth of stock.
According to a July 12 filing with the Securities and Exchange Commission, Virgin Galactic is offering up to $500 million worth of stock for sale. On the same day, the company’s stock value fell about 20%. The sale, if completed, would represent as much as four percent of Virgin’s outstanding shares as of their most previous close, Reuters reported.
The…
Source: The Business Journal
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