Virgin Orbit
Virgin Orbit had earlier entered a “suspended operations” state in mid-March due to lack of funds and put most of its 750 employees on unpaid leave. Since then, Virgin Orbit has been working hard to meet with potential investors to try to secure a new round of investment, but things are clearly not going well.according to CNBC andArchyde.comAccording to reports, CEO Dan Hart has notified employees via email that the unpaid leave will continue.
According to sources, the investor Virgin Orbit found was Matthew Brown from Texas, USA. Brown originally planned to invest 200 million US dollars and obtain control of the company, but it fell through last weekend. At present, the main owner of Virgin Orbit is Sir Richard Branson of the Virgin Group, which owns 75% of the shares. However, it is rumored that Branson has lost interest in owning Virgin Orbit for continuous investment, so Virgin Orbit can only work hard to find new investors. avoid bankruptcy. The stock price of Virgin Orbit has dropped from around $3 a share at the end of last year to only $0.54 today.
Even so, Virgin Orbit still has a small team of employees to prepare for the next launch, just in case there is a taker. According to the plan, Virgin Orbit should try to launch the rocket from the British mainland for the second time this year. The first attempt (and the sixth launch overall) ended in failure when the fuel filter fell off.