Blank Check IPOs (SPACS) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Blank Check IPOs (SPACS)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Glenn Petersen who wrote (2644)	5/11/2020 8:26:50 AM
From: Glenn Petersen	Read Replies (1) of 3862

Richard Branson to sell up to $500 million in Virgin Galactic shares to help his other businesses Published Mon, May 11 20208:06 AM EDT Updated Moments Ago Michael Sheetz @thesheetztweetz CNBC.com Key Points -- Virgin Group founder Sir Richard Branson is preparing to sell up to $504.5 million of his stake in Virgin Galactic. -- Branson intends to use the proceeds of the sale for Virgin Group’s “portfolio of global leisure, holiday and travel businesses that have been affected by the unprecedented impact of COVID-19,” the company said. Richard Branson, Founder of Virgin Galactic (C) poses next to George T. Whitesides (R), CEO of Virgin Galactic Holdings after ringing the First Trade Bell to commemorate the company’s first day of trading on the New York Stock Exchange on October 28, 2019. Johannes Eisele \| AFP \| Getty Images ------------------------------------ Virgin Group founder Sir Richard Branson is preparing to sell up to $504.5 million of his stake in space tourism company Virgin Galactic, according to company filings on Monday. The sale of up to 25 million shares of Virgin Galactic common stock will be made “from time to time by means of ordinary brokers’ transactions,” Branson’s company said in a press release. Virgin Galactic’s stock closed at $20.18 a share on Friday. “Virgin intends to use any proceeds to support its portfolio of global leisure, holiday and travel businesses that have been affected by the unprecedented impact of COVID-19,” Virgin Group said. Shares of Virgin Galactic slipped 6% in premarket trading. The offering represents just under 22% of Branson’s total stake in Virgin Galactic, which was valued at $2.32 billion as of Friday’s close. cnbc.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next