Richard Branson’s satellite launch company, Virgin Orbit, mandated bankers to raise between $150 million and $200 million, which would give it a valuation of about $1 billion, Dow Jones reported, citing people familiar with the matter.
Seeks to raise funds as soon as end 2020; to be deployed toward capital expenditure and for satellite launches.
Virgin Orbit said in August it had appointed LionTree Advisors and Perella Weinberg Partners as bankers, according to report.