Virgin Orbit names winning bids for four sets of assets

By Sarah Lizee

Olympia, Wash., May 23 – Virgin Orbit Holdings, Inc. named the winning bids for four sets of its assets following an auction held Monday, according to documents filed with the U.S. Bankruptcy Court in the District of Delaware.

The winning bids are Rocket Lab USA, Inc.’s $16.12 million bid for the Conant machinery, equipment and lease, Launcher Inc.’s $2.7 million bid for the Mojave facility lease, machinery, equipment and inventory, Stratolaunch, LLC’s $17 million bid for the aircraft and related assets, and Inliper Acquisition, LLC and Liquidity Services Operations, LLC’s $650,000 provisional bid for the McGowen machinery and equipment.

Inliper’s bid is subject to finalization of definitive documentation.

As previously reported, Stratolaunch entered into a stalking horse agreement with Stratolaunch for the company’s specially modified Boeing 747 aircraft known as Cosmic Girl.

There is a 2.5% breakup fee and an up to 4.5% expense reimbursement under the agreement.

The sale hearing will take place on May 24.

The company said in a Tuesday afternoon press release that it will cease operations following the sales.

Long Beach, Calif.-based Virgin Orbit operates space launch systems. The company filed bankruptcy on April 4 under Chapter 11 case number 23-10405.

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