Virgin Galactic Holdings Inc is trading at $5.13 (9% up) today after redeeming $30.5 million in first-lien notes through the issuance of common stock to improve its liquidity position.
- The debt-for-equity move is aimed at reducing cash interest expenses as the company extends a sharp rebound that began in early June.
- The improved balance sheet supports the company's preparations for planned 2026 flight tests and the eventual launch of commercial service.