Investor Chamath Palihapitiya Confirms Promoting Shares In Virgin Galactic


Enterprise investor Chamath Palihapitiya on Saturday confirmed in a tweet that he has freed up some capital by promoting shares in Virgin Galactic Holdings Inc, for investing at scale with out impacting his tempo and strategic view.

“I hated to do it however my stability sheet shrank by virtually $2B this week,” he talked about within the tweet thread, including a tragic emoji.

Within the lengthy tweet thread, mentioning about reviewing and transforming of all the pieces he invested in, Palihapitiya additionally clarified that he didn’t promote any shares of another SPAC he launched.

A regulatory submitting confirmed Palihapitiya offered 6.2 million shares within the house tourism firm he helped take public in 2019, for round $213 million.

In an emailed assertion by way of a spokesman on Friday, Palihapitiya stated he would redirect the funds from the share sale towards a “massive funding” targeted on the battle in opposition to local weather change.

Virgin Galactic didn’t instantly reply to request for remark.

Disclaimer: This submit has been auto-published from an company feed with none modifications to the textual content and has not been reviewed by an editor

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