Virgin Orbit’s Assets Sold to Rocket Lab, Launcher, and Stratolaunch

Virgin Orbit, the space launch company once valued at $3.7 billion, has concluded the auction of its assets as part of its Chapter 11 bankruptcy proceedings. The winning bids, totaling around $36 million, were submitted by Rocket Lab, Launcher (and its parent company, Vast), and Stratolaunch.

Rocket Lab secured Virgin Orbit’s 140,000-square-foot manufacturing facility in Long Beach, California, for $16.1 million. Launcher successfully bid for the Mojave-based facilities for $2.7 million, while Stratolaunch acquired Virgin’s “Cosmic Girl” aircraft and related assets for $17 million. Stratolaunch’s bid for the modified Boeing 747 aircraft was a “stalking horse” bid, setting the minimum floor price and indicating no competing bids were received for that property.

The sale of these assets represents a significant opportunity for the winning bidders. Rocket Lab, already having a significant presence in Long Beach, will benefit from additional resources and equipment, including 3D printers and specialty tank welding machines. Vast, with its ambitions of launching the first private space station, will gain the Mojave leases for test stands and an aircraft hangar. Stratolaunch, acquiring Cosmic Girl, will obtain the aircraft at a fraction of its development price.

Virgin Orbit filed for Chapter 11 bankruptcy protection in April after facing challenges, including a failed rocket launch and insufficient capital. The company’s unique approach to sending small payloads into orbit, using a modified Boeing 747 jet and the LauncherOne rocket, had significant development costs estimated at over $1 billion.

The final sale hearing for these assets is scheduled for May 24. The acquisition of Virgin Orbit’s assets by Rocket Lab, Launcher, and Stratolaunch opens new opportunities for these companies in the space launch industry.