New York, June 11, 2026, 11:49 EDT
- Virgin Galactic was up about 20% at $5.67 late Thursday morning.
- The company redeemed $30.524 million of 9.80% First Lien Notes by issuing 6.73 million shares, according to a new SEC filing. The move came after the filing appeared.
- SPCE is still showing big swings, after earlier moves this month on dilution worries, debt, and some new space stock buzz.
Virgin Galactic Holdings, Inc. stock jumped Thursday as traders piled in following a share-funded debt redemption. SPCE traded at $5.67 in the last check, up 20.4% from Wednesday’s close. The stock opened at $4.64 and swung between $4.62 and $5.77 during the session, with volume around 53.4 million shares.
Virgin Galactic said in a June 10 SEC filing it redeemed $30.524 million in 9.80% First Lien Notes due 2028, giving holders 6,734,960 common shares for the notes. The share total was calculated using the stock’s volume-weighted average over five days.
Virgin Galactic has about $172 million in First Lien Notes still outstanding after the redemption, and no principal payment on those notes will come due until March 31, 2028. The company’s SEC filing described the move as part of a larger push to manage capital and cash, targeting better liquidity and flexibility ahead of expected commercial operations in the fourth quarter of 2026.
SPCE was already moving higher before Thursday. MarketWatch said shares rose 2.61% to close at $4.71 Wednesday, logging a second straight gain even as the Nasdaq Composite dropped 1.98% and the Dow Jones Industrial Average lost 1.87%. Trading volume hit 34.6 million, above its 50-day average of 27.8 million.
Volatility has been high for Virgin Galactic. The stock soared 11.41% to $4.59 on Tuesday, snapping a two-session slide. Volume hit 54.9 million shares, more than twice the 50-day average, according to MarketWatch data.
Virgin Galactic’s debt plan that helped shape Thursday’s balance-sheet story had weighed on the stock at the start of the month. SPCE dropped 39% on June 2, according to a MarketWatch report last week, after the company said it would redeem up to $30.5 million in first lien notes by selling new shares. Investors saw the move as dilutive, though if done it could extend principal out to 2028.
Wall Street’s main indexes climbed Thursday morning, as broader conditions boosted the move. The Dow was up 0.90%, the S&P 500 added 0.81%, and the Nasdaq gained 1.07% at 09:56 a.m. ET, Reuters reported. Investors were picking up beaten-down tech stocks and watching Middle East headlines.
Virgin Galactic’s focus is still on getting commercial flights running again and growing them. In its May 14 earnings, the company said its first new SpaceShip is in ground testing and that flight tests are still planned for the third quarter of 2026, with the first spaceflight lined up for the fourth quarter. CEO Michael Colglazier said, “ground testing of that SpaceShip is underway, and we remain on track to commence flight testing in Q3 and spaceflight in Q4 of this year.” Virgin Galactic
Virgin Galactic’s numbers lay out the picture on liquidity for investors. The company finished the first quarter with $251 million in cash, cash equivalents and marketable securities, brought in $0.2 million revenue, and reported a net loss of $65 million. That’s an improvement from an $84 million loss a year ago. Free cash flow was negative $93 million, less red than the negative $122 million in Q1 of 2025.
SPCE is still trading far under its recent peak, even with Thursday’s rally. MarketWatch said the 52-week high is $8.90, hit on June 1. Shares late Thursday morning were about 36% under that mark, despite the big move up during the session.
