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2021-12-29 02:52
01:46 PM EST, 12/28/2021 (MT Newswires) -- NextGen Acquisition II (NGCA) said Tuesday it secured shareholders' approval for its proposed merger with space technology company provider Virgin Orbit.
In August, the two companies agreed to merge in a $3.2 billion deal that will take Virgin Orbit public. It is expected to raise gross proceeds of $228 million. Following deal completion, the combined company will be called Virgin Orbit Holdings and will list on the Nasdaq under the ticker VORB.
NextGen shares were down about 3% in recent trading.
Price: 9.07, Change: -0.28, Percent Change: -2.97