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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