Virgin Galactic Holdings, Inc. is an American publicly-traded spaceflight company founded by Richard Branson. The company is developing commercial spacecraft and aims to provide suborbital spaceflights to space tourists.
The company went public through a SPAC merger in 2019, and reached a peak market capitalisation of over $14 billion in February 2021. However, since that time, the company's stock price has declined dramatically, falling more than 80% to less than $2.5 billion.
The company continues to burn cash, losing over $100 million in Q2 of 2022, and recording revenue of just $357,000 in the quarter.
Will Virgin Galactic file for bankruptcy protection before 2026?
This question resolves positively if Virgin Galactic Holdings, Inc. files any petition for bankruptcy protection in the United States, under any chapter of the United States Bankruptcy Code, before 1 January 2026. The question resolves on the filing of such a petition, not on whether any bankruptcy protection is granted by a court. The question resolves negatively if no such petition is filed by that date.
Only petitions filed by Virgin Galactic Holdings, Inc., or a renamed business entity comprising substantially all of Virgin Galactic Holdings, Inc.'s business (as judged by moderators) as of August 2022, will count towards resolution; any bankruptcy protection petitions filed by subsidiary entities or spin-off companies will not count.