Richard Branson's Virgin Galactic is going public

Virgin Galactic prepares for public trading launch

The WSJ reports that since it was founded in 2004, Virgin Galactic has already raised more than $1 billion - and that mostly came from Branson himself.

Social Capital Hedosophia will have a 49 percent stake in the combined business, the companies said Tuesday.

"Upon closing of the transaction, which is expected in the second half of 2019, [Virgin Galactic] will be introduced as the first and only publicly traded commercial human spaceflight company", the companies said in a statement.

The following are the top stories in the Wall Street Journal.

Richard Branson's Virgin Galactic will merge with a New York-listed company to become the world's first publicly-traded space tourism venture, the British billionaire's group announced today.

U.S. Envoy Declares 'A Lot Of Progress' In Taliban Peace Talks
The NDS said that the attack took place at a security check-post located at the first entrance of one of its facilities in Ghazni. This article was from Agence France Presse and was legally licensed through the NewsCred publisher network.

FILE - In this December 13, 2018 file photo, a view of Virgin Galactic prior to it reaching space for the first time during its 4th powered flight from Mojave, Calif. Richard Branson's space-tourism venture, Virgin Galactic, is planning to go public, creating the first publicly listed human spaceflight firm, it was reported on Tuesday, July 9, 2019. "They share our dreams and together we will make them reality".

Chamath Palihapitiya, SCH's founder, hailed Branson as "a once-in-a-generation visionary" and said Virgin Galactic is "light years ahead of the competition".

Branson said Virgin Galactic has made "great progress" in its test-flight program and is on track to begin commercial services, allowing it to "open space to more investors and thousands of new astronauts". (AMZN.O) founder Jeff Bezos and Tesla Inc.'s (TSLA.O) Elon Musk, who are racing to send customers into space. The entrepreneur suspended talks on a US$1 billion injection from Saudi Arabia last October following the murder of journalist Jamal Khashoggi.

Virgin Galactic in February soared to the edge of space with a test passenger for the first time, nudging the company closer to its goal of suborbital flights for space tourists.

Virgin Galactic said it has reservations from some 600 people in 60 countries, with $80 million in deposits and $120 million in potential revenue.

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