<div>
  <ul>
    <li>
      <p>
        Virgin Orbit, a space travel and launch company, has auctioned off assets for USD 36 million to RocketLab, Vast, and Stratolaunch as a part of its Chapter 11 bankruptcy proceedings. The purchases by the respective companies are subject to the approval of the US Bankruptcy Court for the District of Delaware.
      </p>
    </li>
    <li>
      <p>
        RocketLab successfully bid USD 16.1 million for Virgin Orbit&rsquo;s Long Beach manufacturing facility spanning over 144,000 sq ft, including production assets, machinery, and equipment. RocketLab expects to bolster the production of its Neutron launch vehicle with this acquisition.
      </p>
    </li>
    <li>
      <p>
        Vast, along with Launcher made a successful bid of USD 2.7 million for Virgin&rsquo;s Mojave-based facilities, and following a &ldquo;stalking horse&rdquo; bid of USD 17 million by Stratolaunch, it will acquire Virgin&rsquo;s modified Boeing 747 aircraft &ldquo;Cosmic Girl.&rdquo;
      </p>
    </li>
    <li>
      <p>
        <b>Analyst QuickTake: </b>
        In March 2023, Virgin Orbit 
        <a href="https://sp-edge.com/updates/17094">
          halted operations temporarily
        </a>
         to secure a funding lifeline which it failed to do, leading to the 
        <a href="https://sp-edge.com/updates/17432">
          ceasing of operations 
        </a>
        along with laying off nearly 85% of the workforce. At the date of the bankruptcy filing, the Richard Branson-backed company had raised USD 469.5 million from equity and debt.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://techcrunch.com/2023/05/23/virgin-orbits-launch-business-sold-for-parts-to-vast-stratolaunch-and-rocket-lab/">
      TechCrunch
    </a>
  </p>
  <p>
    <a href="https://www.businesswire.com/news/home/20230523006112/en/Rocket-Lab-Bolsters-Neutron-Rocket-Program-with-Purchase-of-Virgin-Orbit-Long-Beach-California-Assets">
      RocketLab press release
    </a>
  </p>
  <p>
  </p>
</div>


Space Travel and Exploration Tech

Virgin Orbit sells business assets and shuts down operations

Virgin Orbit to cease operations and lay off nearly 85% of workforce

All Updates

Virgin Orbit sells business assets and shuts down operations

Virgin Orbit to cease operations and lay off nearly 85% of workforce

Virgin Orbit to halt operations amid financial crisis

Virgin Orbit secures USD 10 million from Virgin Investments

Virgin Orbit’s first UK launch attempt suffers failure

Virgin Orbit reports strong revenue in Q3 exceeding analyst expectations

Virgin Orbit and Rocket Lab gears up for inaugural missions on new continents