Should You Invest in the Virgin Orbit SPAC?
With a $6.4 billion market capitalization and shares that, despite some ups and downs, are worth 125% more today than at their 2019 IPO, space tourism company Virgin Galactic (NYSE: SPCE) is undoubtedly the best known of the new space companies that have come to market of late. But Virgin Galactic isn't the only space company named "Virgin" that you can invest in.
A little over a month ago, Virgin Galactic's sister company, Virgin Orbit (which launches satellites rather than humans to space) announced that it, too, plans to go public in a SPAC-sponsored IPO. By reverse merging into special purpose acquisition company (SPAC) NextGen Acquisition II (NASDAQ: NGCA), Virgin Orbit will go public with $483 million in cash, a $3.2 billion enterprise value, and backing from institutional investors, including aerospace giant Boeing (NYSE: BA).
But should you buy into this SPAC IPO?
Source Fool.com
