Virgin Orbit Shares Rise 12% After New NASA Contract
January 27 2022 - 11:29AM
Dow Jones News
By Chris Wack
Virgin Orbit Holdings Inc. shares were up 12% to $8.81 after the
company said it was selected by the National Aeronautics and Space
Administration's Launch Services Program to provide launch services
for the agency's Venture-Class Acquisition of Dedicated Rideshare
missions.
The company said the fixed-price
indefinite-delivery/indefinite-quantity contract will use
commercial satellite launch practices, and together with the
flexibility afforded by Virgin Orbit's LauncherOne system, will
enable more efficient launch time lines, mission-tailored orbits,
and competitive costs.
Virgin Orbit has already launched 13 satellites to space for
NASA through programs like the Venture Class Launch Services
program and the CubeSat Launch Initiative.
The new contract has a five-year ordering period with a maximum
total value of $300 million and will be managed by the Launch
Services Program at the agency's Kennedy Space Center in
Florida.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
January 27, 2022 11:14 ET (16:14 GMT)
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