Virgin Galactic Uses Stock to Redeem Debt, Diluting Shareholders
Virgin Galactic said it will redeem up to $30.5 million of its 9.80% First Lien Notes by issuing common stock to noteholders instead of paying cash, a move that reduces near‑term debt and interest costs but dilutes existing shareholders; the plan, part of a capital-management push ahead of commercial operations in late 2026, prompted a stock price drop as investors weighed dilution against balance‑sheet benefits.