Virgin Galactic exchanges $52.5M of 2027 convertible notes for stock, cutting debt 75%

Filed June 22, 2026 · Period ending June 22, 2026 · ~1 min read

Key Changes

• high

  Company retired $52.5M of its 2027 convertible notes through private exchange for common stock and pre-funded warrants, reducing outstanding 2027 Notes from $70.4M to $17.9M (75% reduction) to strengthen balance sheet ahead of Q4 2026 commercial operations.

  Item 3.02 — Unregistered Sales of Equity Securities verify on EDGAR →
• medium

  Share count determined by five-day VWAP starting June 22, 2026, with daily price floored at $3.03 and capped at $4.09 to limit dilution risk while fixing $52.5M principal exchanged.

  Item 3.02 — Unregistered Sales of Equity Securities verify on EDGAR →
• low

  Transaction expected to close June 29, 2026, with shares issued under Section 4(a)(2) exemption to qualified institutional buyers without SEC registration.

  Item 3.02 — Unregistered Sales of Equity Securities verify on EDGAR →