(Reuters) -Virgin Galactic Holdings Inc on Monday filed to sell up to $500 million in common stock, a day after the company completed its first fully crewed test flight into space with billionaire founder Richard Branson on board.
Shares in Virgin Galactic reversed premarket gains of 8% to trade down nearly 12%, wiping off more than $1 billion from the company’s market capitalization following the share sale announcement.
The sale would account for up to 4% of Virgin Galactic’s…
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