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3/12, 6:36 PM (Source: TeleTrader)
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Branson's Virgin Orbit to go public via SPAC deal - report

Richard Branson, the founder of the Virgin Group, is looking to take his satellite solutions company Virgin Orbit public via a special purpose acquisition company (SPAC) deal, The Wall Street Journal reported on Friday, citing sources familiar with the matter.

Branson is aiming for the Virgin Galactic spin-off to be evaluated at around $3 billion.

British business magnate has already launched SPACs and executed mergers to help companies go public, such as with the 23andMe genetics testing project.

Breaking the News / LH