Virgin Orbit says it won’t be appealing Nasdaq stock delisting

By Sarah Lizee

Olympia, Wash., April 21 – Virgin Orbit Holdings, Inc. notified the Nasdaq that it has decided not to appeal its delisting determination, according to an 8-K filed Friday with the Securities and Exchange Commission.

On April 11, the company requested an oral hearing before a Nasdaq panel to appeal the listing qualification department’s delisting determination. A hearing on the matter was set for May 11.

Trading of the company’s securities on Nasdaq was suspended at the opening of business on April 13, and the company’s common stock is currently trading on the OTC Pink Market under the symbol “VORBQ.”

On Friday, the company withdrew its request for a hearing.

As a result, it is expected that Nasdaq will file a form 25-NSE with the SEC, which will remove the company’s securities from listing and registration on Nasdaq.

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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