Richard Branson's Virgin Orbit to go public via $3.2 bn SPAC deal

Richard Branson-owned Virgin Orbit is going public via a merger with SPAC, NextGen Acquisition Corp. II, in a deal that values it at $3.2 billion. The deal is expected to raise $483 million for Virgin Orbit, including a $100 million PIPE round from investors such as Boeing. Virgin Orbit will list on the Nasdaq post merger's closing.