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SPCE Virgin Galactic

Filed: 15 Nov 21, 5:25pm

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 8)*

 

 

Virgin Galactic Holdings, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

92766K106

(CUSIP Number)

James Cahillane

Virgin Management USA, Inc.

65 Bleecker Street, 6th Floor,

New York, NY 10012

(212) 497-9050

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

November 10, 2021

(Date of Event Which Requires Filing of This Statement)

 

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box.  ☐

 

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent.

 

 

 

*

The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 


 

CUSIP No. 92766K106  Schedule 13D  Page 1 of 8

 

  1   

   Names of Reporting Persons

 

  Virgin Investments Limited

  2 

  Check the Appropriate Box if a Member of a Group

  (a)  ☒        (b)  ☐

 

  3 

  SEC Use Only

 

  4 

  Source of Funds (See Instructions)

 

  OO

  5 

  Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  6 

  Citizenship or Place of Organization

 

  British Virgin Islands

NUMBER OF  

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

 

    7    

  Sole Voting Power

 

  0

    8  

  Shared Voting Power

 

  30,745,494

    9  

  Sole Dispositive Power

 

  0

  10  

  Shared Dispositive Power

 

  30,745,494

11   

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  30,745,494

12 

  Check if the Aggregate Amount in Row (11) Excludes Certain Shares

 

  ☐

13 

  Percent of Class Represented by Amount in Row (11)

 

  11.9%

14 

  Type of Reporting Person

 

  CO


 

CUSIP No. 92766K106  Schedule 13D  Page 2 of 8

 

  1   

   Names of Reporting Persons

 

  Virgin Group Investments LLC

  2 

  Check the Appropriate Box if a Member of a Group

  (a)  ☒        (b)  ☐

 

  3 

  SEC Use Only

 

  4 

  Source of Funds (See Instructions)

 

  OO

  5 

  Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  6 

  Citizenship or Place of Organization

 

  Delaware

NUMBER OF  

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

 

    7    

  Sole Voting Power

 

  0

    8  

  Shared Voting Power

 

  30,745,494

    9  

  Sole Dispositive Power

 

  0

  10  

  Shared Dispositive Power

 

  30,745,494

11   

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  30,745,494

12 

  Check if the Aggregate Amount in Row (11) Excludes Certain Shares

 

  ☐

13 

  Percent of Class Represented by Amount in Row (11)

 

  11.9%

14 

  Type of Reporting Person

 

  OO (Limited liability company)


 

CUSIP No. 92766K106  Schedule 13D  Page 3 of 8

 

  1   

   Names of Reporting Persons

 

  Corvina Holdings Limited

  2 

  Check the Appropriate Box if a Member of a Group

  (a)  ☒        (b)  ☐

 

  3 

  SEC Use Only

 

  4 

  Source of Funds (See Instructions)

 

  OO

  5 

  Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  6 

  Citizenship or Place of Organization

 

  British Virgin Islands

NUMBER OF  

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

 

    7    

  Sole Voting Power

 

  0

    8  

  Shared Voting Power

 

  30,745,494

    9  

  Sole Dispositive Power

 

  0

  10  

  Shared Dispositive Power

 

  30,745,494

11   

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  30,745,494

12 

  Check if the Aggregate Amount in Row (11) Excludes Certain Shares

 

  ☐

13 

  Percent of Class Represented by Amount in Row (11)

 

  11.9%

14 

  Type of Reporting Person

 

  CO


 

CUSIP No. 92766K106  Schedule 13D  Page 4 of 8

 

  1   

   Names of Reporting Persons

 

  Virgin Group Holdings Limited

  2 

  Check the Appropriate Box if a Member of a Group

  (a)  ☒        (b)  ☐

 

  3 

  SEC Use Only

 

  4 

  Source of Funds (See Instructions)

 

  OO

  5 

  Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  6 

  Citizenship or Place of Organization

 

  British Virgin Islands

NUMBER OF  

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

 

    7    

  Sole Voting Power

 

  0

    8  

  Shared Voting Power

 

  30,745,494

    9  

  Sole Dispositive Power

 

  0

  10  

  Shared Dispositive Power

 

  30,745,494

11   

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  30,745,494

12 

  Check if the Aggregate Amount in Row (11) Excludes Certain Shares

 

  ☐

13 

  Percent of Class Represented by Amount in Row (11)

 

  11.9%

14 

  Type of Reporting Person

 

  CO


 

CUSIP No. 92766K106  Schedule 13D  Page 5 of 8

 

  1   

   Names of Reporting Persons

 

  Sir Richard Branson

  2 

  Check the Appropriate Box if a Member of a Group

  (a)  ☒        (b)  ☐

 

  3 

  SEC Use Only

 

  4 

  Source of Funds (See Instructions)

 

  OO

  5 

  Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  6 

  Citizenship or Place of Organization

 

  United Kingdom

NUMBER OF  

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

 

    7    

  Sole Voting Power

 

  0

    8  

  Shared Voting Power

 

  30,745,494

    9  

  Sole Dispositive Power

 

  0

  10  

  Shared Dispositive Power

 

  30,745,494

11   

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  30,745,494

12 

  Check if the Aggregate Amount in Row (11) Excludes Certain Shares

 

  ☐

13 

  Percent of Class Represented by Amount in Row (11)

 

  11.9%

14 

  Type of Reporting Person

 

  IN


 

CUSIP No. 92766K106  Schedule 13D  Page 6 of 8

 

Explanatory Note

This Amendment No. 8 to Schedule 13D (“Amendment No. 8”) amends and supplements the Schedule 13D filed with United States Securities and Exchange Commission on November 4, 2019 (as amended to date, the “Schedule 13D”) relating to the common stock, par value $0.0001 per share (the “Common Stock”), of Virgin Galactic Holdings, Inc., a Delaware corporation (the “Issuer”). Capitalized terms used herein without definition shall have the meaning set forth in the Schedule 13D.

 

Item 5.

Interest in Securities of the Issuer.

Item 5(a) - (b) of the Schedule 13D is hereby amended and restated in its entirety by inserting the following information:

The following sets forth, as of November 10, 2021, the aggregate number of shares of Common Stock and percentage of Common Stock beneficially owned by each of the Reporting Persons, as well as the number of shares of Common Stock as to which each Reporting Person has the sole power to vote or to direct the vote, shared power to vote or to direct the vote, sole power to dispose or to direct the disposition of or shared power to dispose or to direct the disposition of, as of the date hereof, based on 258,011,211 shares of Common Stock outstanding as of November 1, 2021:

 

Reporting Person(1)

  Amount
beneficially
owned
   Percent
of class
  Sole
power to
vote or to
direct the
vote
   Shared
power to
vote or to
direct the
vote
   Sole power
to dispose
or to direct
the
disposition
   Shared
power to
dispose or to
direct the
disposition
 

Virgin Investments Limited

   30,745,494    11.9  0    30,745,494    0    30,745,494 

Virgin Group Investments, LLC

   30,745,494    11.9  0    30,745,494    0    30,745,494 

Corvina Holdings Limited

   30,745,494    11.9  0    30,745,494    0    30,745,494 

Virgin Group Holdings Limited

   30,745,494    11.9  0    30,745,494    0    30,745,494 

Sir Richard Branson

   30,745,494    11.9  0    30,745,494    0    30,745,494 

 

(1)

Does not include shares held by SCH Sponsor Corp. (the “Sponsor”), Chamath Palihapitiya and Aabar. The Reporting Persons expressly disclaim beneficial ownership of the shares of Common Stock held by the Sponsor, Mr. Palihapitiya and Aabar.

VIL is the record holder of the securities reported herein. VGIL is the sole shareholder of VIL. VGIL’s sole managing member is Corvina, whose sole shareholder is VGHL. As a result, each of the foregoing entities may be deemed to share beneficial ownership of the securities held of record by VIL.

Sir Richard Branson owns and has the ability to appoint and remove the management of VGHL and, as such, may indirectly control the decisions of VGHL regarding the voting and disposition of securities owned by VGHL. Therefore, Sir Richard Branson may be deemed to have indirect beneficial ownership of the securities owned by VGHL.


 

CUSIP No. 92766K106  Schedule 13D  Page 7 of 8

 

(c) On November 10, 2021, VIL sold 15,600,000 shares of Common Stock in a negotiated block trade transaction at a price per share of $19.25, Except for the foregoing, none of the Reporting Persons has effected any transactions in the Common Stock in the past 60 days.

(d) None.

(e) Not applicable.


 

CUSIP No. 92766K106  Schedule 13D  Page 8 of 8

 

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date: November 15, 2021

 

VIRGIN INVESTMENTS LIMITED
By: 

/s/ James Cahillane

Name: James Cahillane
Title: Attorney-in-fact
VIRGIN GROUP INVESTMENTS LLC
By: 

/s/ James Cahillane

Name: James Cahillane
Title: Attorney-in-fact
CORVINA HOLDINGS LIMITED
By: 

/s/ James Cahillane

Name: James Cahillane
Title: Attorney-in-fact
VIRGIN GROUP HOLDINGS LIMITED
By: 

/s/ James Cahillane

Name: James Cahillane
Title: Attorney-in-fact
SIR RICHARD BRANSON
By: 

/s/ James Cahillane

Name: James Cahillane
Title: Attorney-in-fact