Boeing Plans Investment in Virgin Orbit’s $3.2 Billion SPAC Listing

Boeing Plans Investment in Virgin Orbit’s $3.2 Billion SPAC Listing

Boeing Co. is trading up 0.24% at 212.67

Boeing Co. has committed to invest in Richard Branson’s Virgin Orbit as part of the satellite-launching start-up’s planned $3.2 billion SPAC listing later this year, according to a person familiar with the matter.

Virgin Orbit plans to list on the Nasdaq stock market by merging with NextGen Acquisition Corp., a special-purpose acquisition company run by former Goldman Sachs banker George Mattson, according to this person.

Boeing’s planned investment, not previously reported, is intended to be made through a SPAC-related fundraising round called a private investment in public equity, or PIPE. That fundraising has garnered a total of $100 million in commitments, this person said. It isn’t clear how much of that Boeing has committed or whether Boeing will be investing directly or through a partnership with another fund. Boeing didn’t immediately return requests for comment made early Monday.

Private-equity fund AE Industrial Partners LP will also invest in this PIPE, according to the person familiar with the matter. Boeing said earlier this month that its venture-capital fund would partner with AE Industrial Partners in investments. AE Industrial Partners also didn’t immediately return a request for comment early Monday.

The details of the listing could be announced as soon as Monday, this person said.

On technical fronts Boeing Co. RSI stood at 34.65 and currently stock is trading below all Moving Average. So, SELL position can be taken with following target and stoploss:

TRADE SIGNAL – : Boeing Co. – SELL: 212.67, TARGET: 206.62, STOP LOSS : 218.92

About Author

Related posts

VOLKSWAGEN AG Technical Analysis

VOLKSWAGEN AG TECHNICAL ANALYSIS, AND VOLKSWAGEN AG FORECAST

VOLKSWAGEN AG Technical Analysis: Weekly Chart In the weekly charts, VOLKSWAGEN AG is trading in a down channel. VOLKSWAGEN AG is currently trading below all SMA. RSI is in over sold zone which indicates mild bullishness. MACD is currently below zero which indicates bearishness. Its immediate support is 155.97...

Read More
Siemens ag technical analysis

Siemens AG Technical Analysis, How To Trade Siemens AG

SIEMENS AG Technical Analysis: Weekly Chart In the weekly charts, SIEMENS AG is trading in a down channel. SIEMENS AG is currently trading below all SMA. RSI is in over sold zone which indicates mild bullishness. MACD is currently below zero which indicates bearishness. Its immediate support is 95.00...

Read More
sap ag technical analysis

SAP AG Technical Analysis And How To Trade SAP AG

SAP AG Technical Analysis: Weekly Chart In the weekly charts, SAP AG is trading in a down channel. SAP AG is currently trading below all SMA. RSI is in selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness. Its immediate support is 84.25 & the...

Read More

Leave a Reply