Virgin Galactic Board Approves 1-For-20 Reverse Stock Split

Virgin Galactic Holdings, Inc. Board of Directors has approved a 1-for-20 reverse stock split of the company’s common stock.

• Primary goal of the reverse stock split is to increase the per share market price of the company’s common stock to meet the minimum per share bid price requirement for continued listing on the NYSE
• Expected to commence trading on a split-adjusted basis when the market opens on June 17
• Co. shares down about 16% post-market

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Cara Moffat in Los Angeles at cmoffat@bloomberg.net

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