On July 9th 2019, Virgin Galactic announced that it is taking the company public. The space tourism company owned by Richard Branson released a statement detailing Virgin Galactic's proposed merger with Social Capital Hedosphia which is the aquisition company of ex Facebook executive, Chatmath Palihapitia. As part of the deal, Virgin Galactic will get an $800 million infusion of cash that the company may use in its efforts to launch passengers into space.
Chatmath Palihapitia will also add another $100 million and become the CEO fo the new company.
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