Virgin Orbit announced today it received FAA authorization for
the late-load addition of Spire Global’s ADLER-1 satellite in less
than 36-hours, joining a growing movement to address the issue of
space debris in record time.
Leading launch company Virgin Orbit, which has announced a
planned business combination with special purpose acquisition
company NextGen Acquisition Corp. II ("NextGen") (NASDAQ: NGCA),
has announced alongside space-based data and analytics provider
Spire Global, Inc. (“Spire”) (NYSE: SPIR) that they have received
waiver approval from the Federal Aviation Authority to include
Spire on Virgin Orbit’s upcoming launch. The satellite, which was
integrated at Virgin Orbit’s Long Beach facility within 36 hours,
will fly as the third customer in the previously announced Above
the Clouds mission, scheduled for mid-December 2021 to mid-January
2022.
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Going from idea to orbit in less than one year, ADLER-1 is
developed by Spire in partnership with the Austrian Space Forum
(OeWF) and Findus Venture GmbH and has demonstrated the speed at
which satellites can be developed. ADLER-1 is also part of a
growing movement to address the issue of dangerous space debris and
to improve sustainability in Low Earth Orbit. The 30x10x10 cm
satellite will study the micro space debris environment in Low
Earth Orbit to complement the space debris models by obtaining
in-situ data.
“It’s flat-out amazing!” said Dan Hart, Virgin Orbit CEO. “Going
from initial conversation to final selection in 20 days and from
selection to integrated payload in just 36 hours, Spire’s recent
addition to Above the Clouds is a great example of the flexibility
of LauncherOne’s capabilities, the agility of both our teams, and
the flexibility and support of the FAA in enabling rapid and
responsive deployment of satellites to Low Earth Orbit.”
“Partnering with Virgin Orbit for this launch allows us to
continue the accelerated pace of this important project with Findus
Ventures GmbH and OeWF to study the space debris environment in Low
Earth Orbit so they can verify and complement space debris models
even more quickly,” said Peter Platzer, CEO of Spire.
ABOUT SPIRE GLOBAL, INC.
Spire (NYSE: SPIR) is a leading global provider of space-based
data, analytics, and space services, offering access to unique
datasets and powerful insights about Earth from the ultimate
vantage point so that organizations can make decisions with
confidence, accuracy, and speed. Spire uses one of the world’s
largest multi-purpose satellite constellations to source hard to
acquire, valuable data and enriches it with predictive solutions.
Spire then provides this data as a subscription to organizations
around the world so they can improve business operations, decrease
their environmental footprint, deploy resources for growth and
competitive advantage, and mitigate risk. Spire gives commercial
and government organizations the competitive advantage they seek to
innovate and solve some of the world’s toughest problems with
insights from space. Spire has offices in San Francisco, Boulder,
Washington DC, Glasgow, Luxembourg, and Singapore. To learn more,
visit spire.com.
ABOUT VIRGIN ORBIT
Virgin Orbit operates one of the most flexible and responsive
space launch systems ever built. Founded by Sir Richard Branson in
2017, the company began commercial service in 2021, and has already
delivered commercial, civil, national security, and international
satellites into orbit. Virgin Orbit’s LauncherOne rockets are
designed and manufactured in Long Beach, California, and are
air-launched from a modified 747- 400 carrier aircraft that allows
Virgin Orbit to operate from locations all over the world in order
to best serve each customer’s needs. On August 22, 2021, Virgin
Orbit entered into a definitive agreement to combine with NextGen
Acquisition Corp. II (NASDAQ: NGCA), a special purpose acquisition
company, which would result in Virgin Orbit becoming a publicly
listed company on the Nasdaq Stock Market under the symbol VORB. To
learn more, visit virginorbit.com.
ABOUT NEXGEN ACQUISITION CORP
II
NextGen Acquisition Corp. II is a blank check company whose
business purpose is to effect a merger, share exchange, asset
acquisition, stock purchase, reorganization or similar business
combination with one or more businesses. NextGen is led by George
Mattson, a former Partner at Goldman, Sachs & Co., and Gregory
Summe, former Chairman and CEO of Perkin Elmer and Vice Chairman of
the Carlyle Group. NextGen is listed on NASDAQ under the ticker
symbol "NGCA." For more information, please visit
www.nextgenacq.com.
IMPORTANT LEGAL
INFORMATION
Additional Information and Where to Find It
This press release relates to a proposed transaction between
Vieco USA, Inc. (“Vieco USA”) and NextGen Acquisition Corp. II
(“NextGen”) that, if consummated, would result in Virgin Orbit
becoming a publicly listed company. This press release is not a
proxy statement or solicitation of a proxy, consent or
authorization with respect to any securities or in respect of the
potential transaction and shall not constitute an offer to sell or
a solicitation of an offer to buy any securities, nor shall there
be any sale of securities in any state or jurisdiction in which
such offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of such
state or jurisdiction. In connection with the proposed transaction,
NextGen has filed a registration statement on Form S-4 with the SEC
on September 16, 2021, as amended on October 29, 2021, November 23,
2021 and December 3, 2021, which was declared effective by the SEC
on December 7, 2021,, which includes a document that serves as a
prospectus and proxy statement of NextGen (the “proxy
statement/prospectus”). A definitive proxy statement/prospectus
will be mailed to all NextGen shareholders of record as of November
19, 2021, the record date established for the extraordinary general
meeting of shareholders relating to the proposed transaction on
December 28, 2021. NextGen also will file other documents regarding
the proposed transaction with the SEC. This communication does not
contain all the information that should be considered concerning
the proposed transaction and is not intended to form the basis of
any investment decision or any other decision in respect of the
proposed transaction. Before making any voting or investment
decision, investors and security holders of NextGen are urged to
read the registration statement, the proxy statement/prospectus
included therein and all other relevant documents filed or that
will be filed with the SEC in connection with the proposed
transaction as they become available because they will contain
important information about the proposed transaction.
Investors and security holders may obtain free copies of the
registration statement, the proxy statement/prospectus included
therein and all other relevant documents filed or that will be
filed with the SEC by NextGen through the website maintained by the
SEC at www.sec.gov.
The documents filed by NextGen with the SEC also may be obtained
free of charge at NextGen’s website at
https://www.nextgenacq.com/nextgen-ii.html or upon written request
to 2255 Glades Road, Suite 324A, Boca Raton, Florida 33431.
Participants in the Solicitation
NextGen and Vieco USA and their respective directors and
executive officers may be deemed to be participants in the
solicitation of proxies from NextGen’s shareholders in connection
with the proposed transaction. Additional information regarding the
interests of those persons and other persons who may be deemed
participants in the proposed transaction may be obtained by reading
the proxy statement/prospectus. You may obtain a free copy of this
document as described in the preceding paragraph.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains certain forward-looking statements
within the meaning of the federal securities laws, including with
respect to the proposed transaction between Vieco USA and NextGen
and the expected timing of Virgin Orbit’s Above the Clouds mission.
These forward-looking statements generally are identified by the
words “believe,” “project,” “expect,” “anticipate,” “estimate,”
“intend,” “strategy,” “future,” “opportunity,” “plan,” “may,”
“should,” “will,” “would,” “will be,” “will continue,” “will likely
result,” and similar expressions. Forward-looking statements are
predictions, projections and other statements about future events
that are based on current expectations and assumptions and, as a
result, are subject to risks and uncertainties. Many factors could
cause actual future events to differ materially from the
forward-looking statements in this press release, including but not
limited to: (i) the risk that the transaction may not be completed
in a timely manner or at all, which may adversely affect the price
of NextGen’s securities, (ii) the risk that the transaction may not
be completed by NextGen’s business combination deadline and the
potential failure to obtain an extension of the business
combination deadline if sought by NextGen, (iii) the failure to
satisfy the conditions to the consummation of the transaction,
including the adoption of the Merger Agreement by the shareholders
of NextGen, the availability of the minimum amount of cash
available in the trust account in which substantially all of the
proceeds of NextGen’s initial public offering and private
placements of its warrants have been deposited following
redemptions by NextGen’s public shareholders and the receipt of
certain governmental and regulatory approvals, (iv) the lack of a
third party valuation in determining whether or not to pursue the
proposed transaction, (v) the inability to complete the PIPE
investment in connection with the transaction, (vi) the occurrence
of any event, change or other circumstance that could give rise to
the termination of the Merger Agreement, (vii) the effect of the
announcement or pendency of the transaction on Vieco USA’s business
relationships, operating results, and business generally, (viii)
risks that the proposed transaction disrupts current plans and
operations of Vieco USA and potential difficulties in Vieco USA
employee retention as a result of the transaction, (ix) the outcome
of any legal proceedings that may be instituted against Vieco USA
or against NextGen related to the Merger Agreement or the proposed
transaction, (x) the ability to maintain the listing of NextGen’s
securities on a national securities exchange, (xi) the price of
NextGen’s securities may be volatile due to a variety of factors,
including changes in the competitive and regulated industries in
which NextGen plans to operate or Vieco USA operates, variations in
operating performance across competitors, changes in laws and
regulations affecting NextGen’s or Vieco USA’s business, Vieco
USA’s inability to implement its business plan or meet or exceed
its financial projections and changes in the combined capital
structure, (xii) the ability to implement business plans,
forecasts, and other expectations after the completion of the
proposed transaction, and identify and realize additional
opportunities, (xiii) the ability of Vieco USA to implement its
strategic initiatives and continue to innovate its existing
products, (xiv) the ability of Vieco USA to defend its intellectual
property, (xv) the ability of Vieco USA to satisfy regulatory
requirements, (xvi) the impact of the COVID-19 pandemic on Vieco
USA’s and the combined company’s business and (xvii) the risk of
downturns in the commercial launch services, satellite and
spacecraft industry. The foregoing list of factors is not
exhaustive. You should carefully consider the foregoing factors and
the other risks and uncertainties described in the “Risk Factors”
section of NextGen’s registration statement on Form S-1 (File No.
333-253848), the registration statement on Form S-4 discussed
above, the definitive proxy statement/prospectus included therein
and other documents filed or that may be filed by NextGen from time
to time with the SEC. These filings identify and address other
important risks and uncertainties that could cause actual events
and results to differ materially from those contained in the
forward-looking statements. Forward-looking statements speak only
as of the date they are made. Readers are cautioned not to put
undue reliance on forward-looking statements, and Vieco USA and
NextGen assume no obligation and do not intend to update or revise
these forward-looking statements, whether as a result of new
information, future events, or otherwise. Neither Vieco USA nor
NextGen gives any assurance that either Vieco USA or NextGen, or
the combined company, will achieve its expectations.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211209005342/en/
INQUIRIES:
Media, Virgin Orbit:
Alison Patch, Senior Director of Communications
press@virginorbit.com 949-616-2504
Media, Spire Global, Inc.:
Janine Kromhout, Director of Communications
janine.kromhout@spire.com 650-269-1417
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