Virgin Orbit will sell its modified Boeing 747, known as Cosmic Girl, to Stratolaunch for $17 million after no better bids emerged, according to bankruptcy court papers filed Tuesday, Bloomberg reports. Meanwhile, Rocket Lab is buying Virgin Orbit's primary rocket factory in California for $16.1 million.
Rocket Lab completed its business combination with vector acquisition in August 2021. Rocket Lab USA received apporoximately $777 million on the SPAC deal. Virgin Orbit's bankruptcy represents a spectacular implosion of the once-promising space systems company, at one time widely touted as the next great innovator in advancing space travel. Read more.