<div><div></div><div>Virgin Galactic announced a series of financing transactions, including repurchases of approximately $354.6 million of its 2.50% convertible notes and concurrent equity and debt issuances. The company completed a registered direct offering of common stock and pre-funded warrants, issued $212.5 million of 9.80% First Lien Notes due 2028 under a new indenture, and executed a warrant agreement for purchase warrants. A registration rights agreement was also signed to facilitate resale of shares underlying the warrants and any shares issued in note redemptions. These steps reduce convertible debt, extend maturities, and enhance liquidity.Agreement 1: Virgin Galactic Signs Repurchase Agreements With Holders of 2.50% Convertible Notes<ul><li>Agreement type: Privately negotiated repurchase agreements for 2.50% convertible senior notes due 2027</li><li>Counterparty: Holders of 2.50% convertible notes</li><li>Signed / Effective: Dec 18 2025 / same</li><li>Duration / Termination: N/A</li><li>Reason: Reduce convertible debt and simplify capital structure</li></ul>Agreement 2: Virgin Galactic Signs Subscription Agreements With Institutional Investors<ul><li>Agreement type: Registered direct offering subscription agreements for common stock and pre-funded warrants</li><li>Counterparty: Certain institutional investors</li><li>Signed / Effective: Dec 18 2025 / same</li><li>Duration / Termination: N/A</li><li>Reason: Raise cash to fund repurchases and operations</li></ul>Agreement 3: Virgin Galactic Signs Indenture for New Notes With Wilmington Savings Fund Society<ul><li>Agreement type: Indenture for 9.80% First Lien Notes due 2028</li><li>Counterparty: Wilmington Savings Fund Society, as trustee and notes collateral agent</li><li>Signed / Effective: Dec 18 2025 / same</li><li>Duration / Termination: Through Dec 31 2028</li><li>Reason: Secure new financing and extend maturities</li></ul>Agreement 4: Virgin Galactic Signs Warrant Agreement With Continental Stock Transfer &amp; Trust Company<ul><li>Agreement type: Warrant agreement for purchase warrants</li><li>Counterparty: Continental Stock Transfer &amp; Trust Company, as warrant agent</li><li>Signed / Effective: Dec 18 2025 / same</li><li>Duration / Termination: Until Dec 18 2030</li><li>Reason: Provide equity upside to investors and support financing</li></ul>Agreement 5: Virgin Galactic Signs Registration Rights Agreement With Investors<ul><li>Agreement type: Registration rights agreement for resale of warrant and redemption shares</li><li>Counterparty: Investors party to the agreement</li><li>Signed / Effective: Dec 18 2025 / same</li><li>Duration / Termination: N/A</li><li>Reason: Provide resale liquidity to financing investors</li></ul>Original SEC Filing: Virgin Galactic Holdings, Inc [ SPCE ] - 8-K - Dec. 18, 2025<section>Disclaimer<div>This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.</div></section></div></div>

SPCE

Virgin Galactic announced multiple financing transactions, including repurchases of $354.6 million of 2.50% convertible notes, equity and debt issuances, and a registered direct offering of common stock and pre-funded warrants. The company issued $212.5 million of 9.80% First Lien Notes due 2028 and executed a warrant agreement. A registration rights agreement was also signed to facilitate resale of shares. These steps aim to reduce convertible debt, extend maturities, and enhance liquidity.

Virgin Galactic Signs Multiple Financing Agreements