The Benchmark Company initiated coverage on NextGen Acquisition Corp. II with a new price target
$NGCA
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The Benchmark Company initiated coverage of NextGen Acquisition Corp. II with a rating of Buy and set a new price target of $16.00
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/22/2021 | $16.00 | Buy | Benchmark |
| 11/22/2021 | $16.00 | Buy | The Benchmark Company |
NextGen Acquisition Corp. II (NASDAQ:NGCA) ("NextGen") today announced the closing of its business combination with Vieco USA, Inc., the parent company of Virgin Orbit ("Virgin Orbit" or the "Company"). As of the closing of the transaction, which was approved by NextGen stockholders on December 28, 2021, NextGen has changed its name to "Virgin Orbit Holdings, Inc." Virgin Orbit's common stock and warrants are expected to begin to trade on the NASDAQ Stock Market ("NASDAQ") on December 30, 2021, under the ticker symbols "VORB" and "VORBW", respectively. To celebrate the listing, Virgin Orbit's executive leadership team and Sir Richard Branson expect to ring the opening bell at the NASDAQ M
NextGen stockholders approved the previously-announced business combination. The closing of the business combination is expected to occur before the end of December 2021. PIPE investors including Boeing, AE Industrial Partners, the Virgin Group, Mubadala, and NextGen's Sponsor to become public shareholders. After the closing, Virgin Orbit common stock is expected to begin trading on the Nasdaq under the symbol "VORB". Sir Richard Branson and Virgin Orbit executives expected to ring the opening bell at the NASDAQ exchange on January 7, 2022. Transaction to result in gross proceeds of approximately $228 million to fund the Virgin Orbit growth plan. Virgin Orbit has successfully l
In combination with $100 million PIPE investment (the "PIPE Investment Amount") and NextGen Acquisition Corp. II's cash in trust after taking into account redemptions and estimated transaction costs (the "Trust Amount"), the incremental up to $100 million common stock purchase will be applied toward satisfaction of the minimum cash condition as defined in the merger agreement 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
8-K - Virgin Orbit Holdings, Inc. (0001843388) (Filer)
8-K - Virgin Orbit Holdings, Inc. (0001843388) (Filer)
25-NSE - Virgin Orbit Holdings, Inc. (0001843388) (Subject)
3 - Virgin Orbit Holdings, Inc. (0001843388) (Issuer)
4 - Virgin Orbit Holdings, Inc. (0001843388) (Issuer)
4 - Virgin Orbit Holdings, Inc. (0001843388) (Issuer)
SC 13D - Virgin Orbit Holdings, Inc. (0001843388) (Subject)
SC 13D - Virgin Orbit Holdings, Inc. (0001843388) (Subject)
Benchmark initiated coverage of NextGen Acquisition with a rating of Buy and set a new price target of $16.00
The Benchmark Company initiated coverage of NextGen Acquisition Corp. II with a rating of Buy and set a new price target of $16.00