Virgin Group Announces, With Support of NextGen's Sponsor, the Intent to Purchase up to $100 Million of Virgin Orbit Common Stock in Additional PIPE Investment

Dec 23, 2021

Today, Virgin Orbit, which has announced a planned business combination with NextGen Acquisition Corp. II (“NextGen”) (NASDAQ: NGCA), announced Virgin Group's intent to purchase up to $100 million of Virgin Orbit common stock in an additional PIPE investment at a price per share of $10.00 (the “Additional Equity Amount”). NextGen Acquisition Corp. II’s Sponsor will be supporting a portion of the Additional Equity Amount alongside the Virgin Group. The Additional Equity Amount will be determined by the amount of investment, if any, required to satisfy the minimum cash condition as defined in the merger agreement up to a maximum amount of $100 million.

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