The aerospace company Virgin Galactic, born from the idea of tycoon Richard Branson to bring space tourism to a commercial level, it recently announced its intention to put on the market common shares for a value of up to 400 million dollars through an offer “at the market”. This move aims to raise funds to finance the company’s development and growth in the space travel sector.
Based on what is reported in the document presented to the SEC (Securities and Exchange Commission), Virgin Galactic will use the funds raised for the development of the fleet of spaceships and the infrastructures necessary to support space operations. In addition, part of the capital will be dedicated to financing commercial activities and for general business purposes, such as working capital and general and administrative expenses.