Virgin Galactic Holdings, Inc. redeemed $30,524,000 in principal amount of its 9.80% First Lien Notes due 2028 by issuing 6,734,960 shares of common stock to noteholders. This transaction was intended to partially redeem the debt, improve liquidity and reduce ongoing cash interest obligations. Approximately $172 million in aggregate principal amount of First Lien Notes remains outstanding with no principal payment due until March 31, 2028. Virgin Galactic is an aerospace company that develops and operates commercial spaceflight services.
