Previous Close | 5.50 |
Open | 5.51 |
Bid | 0.00 x 0 |
Ask | 0.00 x 0 |
Day's Range | 5.50 - 5.50 |
52 Week Range | 3.50 - 6.87 |
Volume | |
Avg. Volume | 944 |
Market Cap | 23.029M |
Beta (5Y Monthly) | 0.52 |
PE Ratio (TTM) | 10.11 |
EPS (TTM) | N/A |
Earnings Date | N/A |
Forward Dividend & Yield | 0.04 (0.73%) |
Ex-Dividend Date | Mar 27, 2024 |
1y Target Est | N/A |
Subscribe to Yahoo Finance Plus to view Fair Value for ORBT
Sir Richard Branson's Virgin Orbit is to cease operations months after a mission failure in the UK.
WASHINGTON (Reuters) -Richard Branson's bankrupt satellite launch firm, Virgin Orbit, on Tuesday revealed that it was closing for good after a $36.4 million asset sale, including an agreement to sell the bulk of its Long Beach, California, headquarters to small-launch firm Rocket Lab USA Inc. Rocket Lab, the seasoned small-rocket company whose headquarters is less than a mile from Virgin Orbit's, won the bankrupt rocket company's primary manufacturing site for $16 million during an auction held on Monday, according to a court filing disclosing the results of a weeks-long Chapter 11 bid process. The purchase agreement includes machinery and equipment that had been used to manufacture Virgin Orbit's flagship LauncherOne rockets, which air-launched from the belly of a modified Boeing 747.
Earlier this month, Virgin Orbit filed for Chapter 11 bankruptcy protection after the satellite launch company struggled to secure long-term funding following a failed launch in January. "We expect the filing of the plan and disclosure statement will help us to efficiently conclude the Chapter 11 process once we have completed the sale of the company," Dan Hart, chief executive of Virgin Orbit said in the statement.