Virgin Group is one of the latest large corporations launching a SPAC.
VGAC) comes from Virgin Group and its founder Richard Branson. Current Virgin Group CEO Josh Bayliss will serve as the CEO of VG Acquisition Corp.
A 2019 survey showed 96% brand awareness of the Virgin Group brand in the United States and 99% in the United Kingdom.
Virgin Group has a history of doing strategic collaborations with large companies, private equity firms, venture capital firms, family offices, and sovereign wealth funds.
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plans on launching IPOA to IPOZ.” data-reactid=”30″>Virgin Group also has experience with SPACs as its Virgin Galactic Holdings (NYSE: SPCE) was part of a reverse merger from Chamath Palihapitiya’s Social Capital Hedosophia, who plans on launching IPOA to IPOZ.
WORK), Square Inc (NYSE: SQ), Twitter Inc. (NYSE: TWTR) and Pinterest Inc (NYSE: PINS).
An acquired company could even end up under the Virgin brand someday.
“A key differentiator for our company versus other sponsors is our ability to apply the Virgin brand to our target in conjunction with a business combination,” the filing says. “We are focused on effecting a business combination with a target that operates in one of the Virgin Group’s core sectors: travel and leisure, financial services, health and wellness, technology and internet-enabled, music and entertainment, media and mobile, and renewable energy/resource efficiency.”
VG Acquisition Corp believes it can help an acquired company by providing marketing efficiency, boosting market share, attracting and retaining talent, commanding a premium, scaling fast, and building loyal communities.
Virgin Galactic visits the New York Stock Exchange to celebrate its listing. Richard Branson rings The First Trade Bell. Photo courtesy of Courtney Crow.
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