Virgin Orbit Secures $200 Million Funding from Investor Matthew Brown

Virgin Orbit is in final talks to raise $200 million from Texas-based investor Matthew Brown, who would get a controlling stake in the rocket builder. The parties aim to close the deal as soon as Thursday. The deal comes as Virgin Orbit scrambles to rebuild its cash coffers and avoid a potential bankruptcy filing. The cash infusion comes at a critical moment in Virgin Orbit's rocket development, as the company has been looking for new funds for several months.