Virgin Group is probably going one of many latest large firms launching a SPAC.VG Acquisition Corp (NYSE: VGAC) comes from Virgin Group and its founder Richard Branson. Current Virgin Group CEO Josh Bayliss will operate the CEO of VG Acquisition Corp.The Offering: Credit score rating Suisse is underwriting this SPAC. Plans title for 40 million shares to be purchased at $10 each for $400 million in proceeds. Each share will embody one-third of the warrant to purchase a share at $11.50. The group plans to file shares on the NYSE with picture VGAC.About Virgin Group: Virgin Group has firms all through the journey and leisure, financial, properly being and wellness, music, leisure, media, cell, home, and renewable energy industries.A 2019 survey confirmed 96% model consciousness of the Virgin Group model within the USA and 99% within the UK.Virgin Group has a historic previous of doing strategic collaborations with large companies, private equity firms, enterprise capital firms, family locations of labor, and sovereign wealth funds.The company moreover has a historic previous of forming companies that are later acquired or merged with larger public companies. Virgin Cell was acquired by Sprint Nextel. Virgin Media was acquired by Liberty Worldwide. Virgin America was acquired by Alaska Air Group (NYSE: ALK).Virgin Group moreover has experience with SPACs as its Virgin Galactic Holdings (NYSE: SPCE) was part of a reverse merger from Chamath Palihapitiya’s Social Capital Hedosophia, who plans on launching IPOA to IPOZ.Aside from its private Virgin branded companies, Virgin Group has made prior investments in companies like Slack Utilized sciences (NYSE: WORK), Sq. Inc (NYSE: SQ), Twitter Inc. (NYSE: TWTR) and Pinterest Inc (NYSE: PINS).VG Acquisition Corp: Virgin Group has a historic previous of providing strategic path and assist in value creation initiatives. Virgin Group has experience starting firms from the underside up, shopping for stakes in current firms, and re-branding a enterprise beneath the Virgin title.An acquired agency would possibly even end up beneath the Virgin model someday.“A key differentiator for our company versus other sponsors is our ability to apply the Virgin brand to our target in conjunction with a business combination,” the submitting says. “We’re centered on effecting a enterprise mixture with a goal that operates in one of many Virgin Group’s core sectors: journey and leisure, monetary providers, well being and wellness, expertise and internet-enabled, music and leisure, media and cell, and renewable power/useful resource effectivity.”VG Acquisition Corp believes it may help an acquired agency by providing promoting and advertising and marketing effectivity, boosting market share, attracting and retaining experience, commanding a premium, scaling fast, and developing loyal communities.Virgin Galactic visits the New York Stock Alternate to rejoice its itemizing. Richard Branson rings The First Commerce Bell. Image courtesy of Courtney Crow.© 2020 Fintech Zoom.com. Fintech Zoom doesn’t current funding suggestion. All rights reserved.