8-KCurrent report
Unregistered equity sales
✓ VerifiedVirgin Galactic agreed to exchange approximately $52.5 million of its 2.50% convertible notes due 2027 for stock and pre-funded warrants, cutting the outstanding 2027 notes by approximately 75% to $17.9 million.
Filed Jun 22, 2026 · 08:15 ET
Summary
- The privately negotiated exchange, dated June 22, 2026, covers approximately $52.5 million of principal held by one holder.
- After completion the outstanding 2027 notes fall from $70.4 million to $17.9 million.
- Share count is set by a daily VWAP with a floor of $3.03 and a cap of $4.09; the company frames the exchange as strengthening the balance sheet ahead of commercial operation in the fourth quarter of 2026.
Key facts
- Exchanged
- approximately $52.5 million
From the filing for Exchanged
“exchange (the "Exchange") approximately $52.5 million in aggregate principal amount of 2027 Notes”
- Remaining 2027 notes
- $17.9 million
From the filing for Remaining 2027 notes
“from $70.4 million to $17.9 million in aggr”
Why it mattersSwapping near-term debt for equity clears the 2027 wall before Delta-class flights begin selling.
- Filed
- Jun 22, 2026
- Accepted
- 2026-06-22 12:15Z
- Period
- Jun 22, 2026
- Accession no.
- 0001193125-26-276740
- Size
- 137 KB
- Index
- Filing index