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The Wall Street Journal: Richard Branson’s Virgin Galactic flies to the stock market

Virgin Galactic, Richard Branson’s space-tourism venture, is preparing for liftoff as a publicly traded company.

Social Capital Hedosophia Holdings Corp. IPOA, +3.45% , a special-purpose acquisition company, or SPAC, is planning to invest roughly $800 million in Virgin Galactic for a 49% stake.

As part of the deal with Social Capital Hedosophia, a publicly traded shell, Virgin Galactic later this year would become the first publicly listed human-spaceflight company.

Virgin Galactic expects that this deal will give it enough capital to fund the business until its spaceships can commercially operate and turn a profit. It is in a race with companies including Jeff Bezos’ Blue Origin and Elon Musk’s Space Exploration Technologies Corp.

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