Virgin Orbit receives $17 million stalking horse bid for Cosmic Girl

By Sarah Lizee

Olympia, Wash., May 17 – Virgin Orbit Holdings, Inc. is seeking approval of a stalking horse agreement with Stratolaunch, LLC for its specially modified Boeing 747 aircraft known as Cosmic Girl, according to a motion filed Tuesday with the U.S. Bankruptcy Court in the District of Delaware.

The purchase price under the agreement is $17 million.

There is a 2.5% breakup fee and an up to 4.5% expense reimbursement.

The company said its marketing process has also generated considerable interest in its other assets.

The bid deadline is noon ET on May 19, and the auction is scheduled for May 22.

The sale hearing will take place on May 24.

Long Beach, Calif.-based Virgin Orbit operates space launch systems. The company filed bankruptcy on April 4 under Chapter 11 case number 23-10405.

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