Virgin Galactic Announces Partial Redemption of $10M First Lien Notes via Stock Issuance

Virgin Galactic Holdings, Inc. filed an 8-K on April 30, 2026, announcing a partial redemption of up to $10 million of its 9.80% First Lien Notes due 2028. The redemption will occur on May 18, 2026, with the company paying the redemption price by issuing shares of common stock to note holders. The actual amount redeemed may be less than $10 million depending on the volume-weighted average stock price during a 10-day observation period. This redemption will reduce the company's mandatory redemption obligation of $30.4 million due by September 30, 2026. Management stated this move is part of their capital management and cash preservation strategy, aimed at reducing ongoing cash interest obligations as the company prepares for commercial operations in Q4 2026.