Engaget Summary (2023-06-16 01PM)

Source: Firefly Aerospace buys the final scraps of doomed Virgin Orbit

Summary
Firefly Aerospace has acquired the assets of the bankrupt satellite-launch company Virgin Orbit for $3.8 million, this includes the components for Virgin’s LauncherOne vehicles and two additional engines. Firefly Aerospace is developing Firefly Alpha, a two-stage, liquid-fueled rocket.

Fact

🛰️ Firefly Aerospace has bought the inventory at two of Virgin Orbit’s former Long Beach, CA, production facilities for $3.8 million.

🚀The assets purchased comprises of components for Virgin’s LauncherOne vehicles and two additional engines.

💲Virgin Orbit’s bankruptcy proceedings picked up $36 million in May auction but retained some remaining assets.

🌍Both were viewed as exciting new entrants to the space race, however, Firefly Aerospace aims to continue where Virgin Orbit fell short with its struggling launch business.

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