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Virgin Galactic Holdings, Inc. (NYSE:SPCE) announced Monday that board member Luigi Brambilla has informed the company he will not stand for re-election to the Board of Directors at the conclusion of his current term, which ends at the company’s 2026 Annual Meeting of Stockholders. According to the company’s statement, Brambilla’s decision is for personal reasons and is not the result of any disagreement with the company.
The filing also states that Virgin Investments Limited (VIL), under the terms of an existing Stockholders’ Agreement, currently has the right to designate two nominees for the Board at the 2026 Annual Meeting. On Tuesday, VIL notified Virgin Galactic of its intention to designate Allison Belzberg, Director, Investment and Commercial at Virgin Management USA, Inc., a subsidiary of VIL, for nomination to the Board.
Further details regarding Belzberg’s background and qualifications will be provided in Virgin Galactic’s definitive proxy statement, which is expected to be filed with the Securities and Exchange Commission prior to the 2026 Annual Meeting.
This information is based on a press release statement included in the company’s filing with the SEC.
In other recent news, Virgin Galactic Holdings reported a fourth-quarter loss of $0.98 per share with revenue totaling $310,000, marking a 27% decrease from the previous year’s $429,000. Despite this earnings miss, the company’s shares experienced a rise, as testing of its new spaceship nears. Jefferies has adjusted its price target for Virgin Galactic, lowering it from $8.00 to $5.00, while maintaining a Buy rating due to anticipated commercial flights in the fourth quarter. Meanwhile, TD Cowen reiterated its Buy rating on Virgin Galactic, noting the high cost and limited availability of its space tourism experience.
In a separate development, NASA’s launch of its first crewed lunar mission in fifty years has sparked interest in space-related stocks. Intuitive Machines saw a 17% increase in shares, while AST SpaceMobile, York Space Systems, Firefly Aerospace, Virgin Galactic, and Rocket Lab also experienced gains following the mission’s launch. The Artemis II mission, which involves a 10-day journey around the moon, is part of the United States’ broader goal to return humans to the lunar surface before China. These recent developments highlight significant activity in the space industry, with both financial and exploratory advancements.
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