The modified Boeing 747 plane, named “Cosmic Girl”, will take off from Spaceport Cornwall in the southwest of England.
Hugh Hastings/Stringer/Getty Images
Bankrupt rocket company Virgin Orbit sold its assets and equipment to a trio of aerospace companies at an auction, according to a court filing released Tuesday.
The offers total approximately $36 million.
rocket lab According to the filing, Stratolaunch won its $17 million bid for the “hunting horse” for Virgin Orbit’s 747 jet. Launcher, a subsidiary of Vast Space, is buying the company’s facilities in Mojave, Calif., along with some machinery, equipment and inventory, for $2.7 million.
Virgin Orbit, Rocket Lab, Stratolaunch and Launcher did not immediately respond to CNBC’s requests for comment.
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Earlier in the bankruptcy process, Virgin Orbit accepted the terms of Stratolaunch’s offer to buy the 747 “Cosmic Girl” jet and other aviation assets. Stratolaunch developed its own airborne system, the world’s largest aircraft called “Roc”, as a platform for hypersonic flight testing.
Virgin Orbit filed for bankruptcy protection on April 4 after the company failed to secure a funding lifeline and laid off nearly all of its workforce. The auction result falls short of Virgin Orbit’s goal in the Chapter 11 bankruptcy process, which was to find a wholesale buyer who would keep the company’s assets and intellectual property together.
The bankruptcy court must approve the sale in a hearing Wednesday at 2 p.m. ET.
This story is developing. Please check for updates.