{"id":22019,"date":"2023-03-22T21:11:26","date_gmt":"2023-03-22T13:11:26","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/virgin-orbit-seeks-cash-infusion-to-reboost-the-company\/"},"modified":"2023-03-22T21:11:26","modified_gmt":"2023-03-22T13:11:26","slug":"virgin-orbit-seeks-cash-infusion-to-reboost-the-company","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/virgin-orbit-seeks-cash-infusion-to-reboost-the-company\/","title":{"rendered":"Virgin Orbit seeks cash infusion to reboost the company"},"content":{"rendered":"<figure class=\"img-border featured-image\">\n<p>\t<img decoding=\"async\" width=\"100%\" src=\"https:\/\/spaceexplored.com\/wp-content\/uploads\/sites\/10\/2023\/03\/FWn8fppWQAEzrJr.jpeg?w=1024\" alt=\"\" class=\"wp-image-34811\" srcset=\"https:\/\/spaceexplored.com\/wp-content\/uploads\/sites\/10\/2023\/03\/FWn8fppWQAEzrJr.jpeg 2048w, https:\/\/spaceexplored.com\/wp-content\/uploads\/sites\/10\/2023\/03\/FWn8fppWQAEzrJr.jpeg?resize=300,200 300w, https:\/\/spaceexplored.com\/wp-content\/uploads\/sites\/10\/2023\/03\/FWn8fppWQAEzrJr.jpeg?resize=768,512 768w, https:\/\/spaceexplored.com\/wp-content\/uploads\/sites\/10\/2023\/03\/FWn8fppWQAEzrJr.jpeg?resize=1024,682 1024w, https:\/\/spaceexplored.com\/wp-content\/uploads\/sites\/10\/2023\/03\/FWn8fppWQAEzrJr.jpeg?resize=1536,1023 1536w, https:\/\/spaceexplored.com\/wp-content\/uploads\/sites\/10\/2023\/03\/FWn8fppWQAEzrJr.jpeg?resize=350,233 350w, https:\/\/spaceexplored.com\/wp-content\/uploads\/sites\/10\/2023\/03\/FWn8fppWQAEzrJr.jpeg?resize=140,93 140w, https:\/\/spaceexplored.com\/wp-content\/uploads\/sites\/10\/2023\/03\/FWn8fppWQAEzrJr.jpeg?resize=1501,1000 1501w, https:\/\/spaceexplored.com\/wp-content\/uploads\/sites\/10\/2023\/03\/FWn8fppWQAEzrJr.jpeg?resize=150,100 150w\" sizes=\"(max-width: 1024px) 100vw, 1024px\"><figcaption class=\"wp-element-caption\">LauncherOne is a two-stage rocket \u2014 powered by liquid oxygen and rocket grade kerosene \u2014 that can send small payloads into low Earth orbit after being air-launched by a modified 747 aircraft. Credit: Virgin Orbit<\/figcaption><\/figure>\n<p class=\"wp-block-paragraph\">During the third quarter of 2022, Virgin Orbit reported a loss of $42.9 million as cash demands continued, with fourth quarter funding coming from an investment arm of its founder Richard Branson\u2019s parent company, Virgin Group.<\/p>\n<p class=\"wp-block-paragraph\">Notes in the amounts of $25 million, an unsecured convertible note secured in November of 2022, along with another $30 million in senior secured notes in December 2022 and January 2023 gives \u201cfirst priority\u201d access to assets by Branson\u2019s parent company.<\/p>\n<p>\t<span class=\"outbrain-ad-label\"><\/span><\/p>\n<p>\t\t<script type=\"text\/plain\">\n\t\t\twindow.adSlotsConfig = window.adSlotsConfig || [];<\/p>\n<p>\t\t\tadSlotsConfig.push( {\n\t\t\t\tslotID: '\/1049447\/Outbrain',\n\t\t\t\tslotName: 'div-gpt-ad-outbrain-ad-34809',\n\t\t\t\tsizes: [300, 250],\n\t\t\t\tslotPosition: 'mid_article'\n\t\t\t} );\n\t\t<\/script><\/p>\n<p><span id=\"more-34809\"><\/span><\/p>\n<h2 class=\"wp-block-heading\" id=\"h-spaceport-cornwall\">Spaceport Cornwall<\/h2>\n<p class=\"wp-block-paragraph\">Earlier this year on Jan. 23, from a runway at Spaceport Cornwall in the United Kingdom dubbed the \u201cworld\u2019s newest space launch center,\u201d the customized 747 \u201cCosmic Girl,\u201d LauncherOne\u2019s carrier aircraft, took off.<\/p>\n<p class=\"wp-block-paragraph\">After releasing the rocket, LauncherOne successfully reached space. However, the mission ultimately ended abruptly when the second stage experienced an anomaly during firing, resulting in it being unable to reach orbit.<\/p>\n<p class=\"wp-block-paragraph\">The mission was unable to reach any significant achievements that Virgin Galactic and its partners \u2014 the UK Space Agency, the Royal Air Force, the Civilian Aviation Authority, the U.S. Federal Aviation Administration and the National Reconnaissance Office \u2014 were hopeful for other than achieving a historic first attempt at a space launch from UK soil.<\/p>\n<p class=\"wp-block-paragraph\">Overall, that was the sixth flight of the 70-foot (21.3 meters) LauncherOne since May of 2020. While its first flight failed, the next four were successful. It has the ability to send up to 1,100 pounds (500 kilograms) into low Earth orbit.<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-reconstruction-partners\">Reconstruction partners<\/h2>\n<p class=\"wp-block-paragraph\">Virgin Group has connected with Alvarez &amp; Marsal and Ducera, two firms specializing in reconstruction, as a measure of caution\/alternative, as Virgin Orbit continues to court would-be investors to revive operations for the company.<\/p>\n<p class=\"wp-block-paragraph\">Richard Branson\u2019s holding company owns 75% of Virgin Orbit with shares traded on the Nasdaq exchange in New York City, which saw share value plunge after the failed mission in Cornwall during the first quarter of 2023.<\/p>\n<p class=\"wp-block-paragraph\">As Virgin Orbit continues to seek funding for the restart, Dan Hart, the company\u2019s chief executive, acknowledges that without an injection of cash, launching future missions is uncertain.<\/p>\n<p class=\"wp-block-paragraph\"><em>Furlough update from Tuesday evening:<\/em><\/p>\n<figure class=\"wp-block-embed alignwide is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<iframe id=\"twitter-widget-0\" scrolling=\"no\" frameborder=\"0\" allowtransparency=\"true\" allowfullscreen=\"true\" class=\"\" style=\"position: static; visibility: visible; width: 500px; height: 321px; display: block; flex-grow: 1;\" title=\"X Post\" src=\"https:\/\/platform.twitter.com\/embed\/Tweet.html?creatorScreenName=theresacross_&amp;dnt=true&amp;embedId=twitter-widget-0&amp;features=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%3D%3D&amp;frame=false&amp;hideCard=false&amp;hideThread=false&amp;id=1638361532336832514&amp;lang=en&amp;origin=https%3A%2F%2Fspaceexplored.com%2F2023%2F03%2F21%2Fvirgin-orbit-cash-boost%2F&amp;sessionId=ba00d1466e406b152151c09f3bd786cda2c4ad2b&amp;siteScreenName=space_explored&amp;theme=light&amp;widgetsVersion=6a3ad42b224df%3A1778106238597&amp;width=500px\" data-tweet-id=\"1638361532336832514\"><\/iframe><script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<\/figure>\n","protected":false},"excerpt":{"rendered":"<p>LauncherOne is a two-stage rocket \u2014 powered by liquid oxygen and rocket grade kerosene \u2014 that can send small payloads into low Earth orbit after being air-launched by a modified 747 aircraft. Credit: Virgin Orbit During the third quarter of 2022, Virgin Orbit reported a loss of $42.9 million as cash demands continued, with fourth [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-22019","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/22019"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=22019"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/22019\/revisions"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=22019"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=22019"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=22019"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}