Rocket Lab Acquires Assets of Virgin Orbit in Long Beach, California

Rocket Lab USA, Inc. has been selected as the successful bidder for certain aerospace production and manufacturing assets from Virgin Orbit Holdings, Inc. and certain of its subsidiaries in Virgin Orbit’s Chapter 11 bankruptcy auction. Rocket Lab’s successful bid of approximately $16.1 million includes the assumption of the lease to Virgin Orbit’s 144,000+ square foot headquarters and manufacturing complex in Long Beach, California, and certain production assets, machinery, and equipment located there. The purchase does not include the purchase of Virgin Orbit’s Boeing 747 aircraft, launch vehicles or mobile launch assets for its rockets, or other Virgin Orbit facilities, inventory and assets. The combination of these assets with Rocket Lab’s existing production, manufacturing, and test capabilities is expected to advance the production of Rocket Lab’s larger launch vehicle, Neutron. Rocket Lab will not be integrating Virgin Orbit’s launch system within its existing launch services. Virgin Orbit Holdings, Inc. announced that it will sell its assets to four winning bidders and will cease operations.