Virgin Galactic Retires $355 Million in Convertible Notes and Issues New Debt

Reuters12-09

Virgin Galactic Retires $355 Million in Convertible Notes and Issues New Debt

Virgin Galactic Holdings Inc. has announced a series of capital realignment transactions related to its 2.50% convertible senior notes due 2027. The company has reached agreements to repurchase and retire approximately $355 million in principal amount of these notes, which is expected to reduce its indebtedness by about $152 million and extend the maturity of most remaining debt to the second half of 2028. To support these transactions, Virgin Galactic will issue around $46 million in common stock and pre-funded warrants in a registered direct offering, and approximately $203 million in new 9.80% First Lien Notes due 2028, along with warrants to purchase common stock, in a private placement. The new notes will be secured by a first-priority lien on substantially all company assets. The company plans to file a new registration statement to cover resale of shares issuable upon exercise of warrants and pursuant to the terms of the new notes. Completion of the transactions is subject to customary closing conditions.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Virgin Galactic Holdings Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 20251209008597) on December 09, 2025, and is solely responsible for the information contained therein.

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