Virgin Galactic to offer $425 million of convertible bonds that mature in 2027

Virgin Galactic Holdings Inc.
SPCE,
-0.16%

said Thursday it is planning to offer $425 million of convertible bonds that mature in 2027 in a private offering. The company plans to use the proceeds of the deal to fund working capital, for general and administrative matters and capex to advance the development of its spacecraft fleet for high-volume commercial service. It will also use part of the deal to fund capped call transactions that aim to minimize…

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