Virgin Galactic Holdings (SPCE) is looking to sell up to $500 million worth of common stock. The company has engaged the services of Credit Suisse Securities (CS), Morgan Stanley (MS), and Goldman Sachs (GS) as part of a capital raising drive. The three will act as the company’s agents in the sale. SPCE stock price plunged 17.30% to close at $40.69 yesterday. The agents are entitled to commission at a mutually agreed rate that will not exceed 2% of the gross sales price. (See Virgin Galactic stock charts on TipRanks) Virgin Galactic Holdings intends to use net proceeds from the offering for working capital, general, and administrative purposes.
https://www.tipranks.com/news/virgin-galactic-plans-to-sell-500m-in-stock-shares-fall-17
Virgin Galactic (NYSE:SPCE)
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