Virgin Orbit: 2021 revenue misses pre-IPO forecast; 4-6 missions in 2022, option to sell $250M in stock to Yorkville Advisors

by Peter B. de Selding

PARIS— Small satellite launch-service provider Virgin Orbit’s 2021 revenue fell far short of what it promised investors in the run-up to its SPAC-enabled stock-market introduction but said it expects to double its launch activity in 2022, to between four and six missions.

The company also said that while it had about $195 million in cash as of Dec. 31, it had entered an agreement with Yorkville Advisors to sell, at Virgin Orbit’s discretion, $250 million in company common stock at a 2.5 . . .

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