Virgin Orbit extends unpaid pause as Brown deal collapses, 'dynamic' talks continue

NEWQUAY, ENGLAND - JANUARY 09: A general view of Cosmic Girl, a Boeing 747-400 aircraft carrying the LauncherOne rocket under its left wing, as final preparations are made at Cornwall Airport Newquay on January 9, 2023 in Newquay, United Kingdom. Virgin Orbit launches its LauncherOne rocket from the spaceport in Cornwall, marking the first ever orbital launch from the UK. The mission has been named Start Me Up after the Rolling Stones hit.

Some of the company's late-stage deal talks, including with private investor Matthew Brown, collapsed over the weekend, people familiar with the matter told CNBC. Hart previously planned to update employees on the company's operational status at an all-hands meeting at 4:30 p.m. ET on Monday afternoon, according to an email sent to employees Sunday night. At the last minute, that meeting was rescheduled "for no later than Thursday," Hart said in the employee memo Monday.

"Our investment discussions have been very dynamic over the past few days, they are ongoing, and not yet at a stage where we can provide a fulsome update," Hart wrote in the email to employees, which was viewed by CNBC.

Source: News Formal (newsformal.com)

what does 'extend unpaid pause' mean? lol

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

We now know what caused comet ‘Oumuamua's strange orbit | Digital TrendsIt wasn't aliens that sent an interstellar comet to visit our solar system. The explanation is a phenomenon called outgassing. Outgassing? Does that mean it came from...Uranus? *snicker* No we do not 'KNOW' It is just a theory of 1 possible explanation. The study you link from Nature does not say Know or Proven. It only references past studies relating to hydrogen gassing.
Source: DigitalTrends - 🏆 95. / 65 Read more »

Starlink rival OneWeb sends final satellites in orbit to offer global internetOneWeb has finally put to orbit the last 36 satellites of its initial 616-satellite “constellation” and is soon readying to offer global internet.
Source: IntEngineering - 🏆 287. / 63 Read more »

JUICE: Exploring Jupiter's MoonsJUICE will be the first mission to orbit a moon other than Earth's ⬇️
Source: SPACEdotcom - 🏆 92. / 67 Read more »

Virgin Media O2's broadband is now available to over 6,400 homes in East Grinstead, UKPeople there can even take advantage of the carrier's Gig1 broadband, which provides speeds that are 20 times faster than the local average
Source: PhoneArena - 🏆 322. / 59 Read more »

Millie Bobby Brown to Publish Debut Novel ‘Nineteen Steps’Millie Bobby Brown will publish her debut novel this fall.
Source: Collider - 🏆 1. / 98 Read more »

Make This Brown Butter Chocolate Soufflé for PassoverTurns out soufflés don’t deserve their fussy reputation.
Source: bonappetit - 🏆 482. / 51 Read more »