Virgin Galactic Holdings, Inc. entered into a privately negotiated exchange agreement to exchange approximately $52.5 million in aggregate principal amount of its 2.50% Convertible Senior Notes due 2027 for common stock and pre-funded warrants. This transaction is intended to improve liquidity and strengthen the balance sheet ahead of its planned commercial operations in Q4 2026. Following the exchange, the outstanding 2027 Notes will be reduced from $70.4 million to approximately $17.9 million. Virgin Galactic Holdings, Inc. operates in the aerospace industry and provides commercial spaceflight services.
