Exclusive-Virgin Orbit near deal to raise $200 million from Matthew Brown-term sheet

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Reuters UK

By Joey Roulette WASHINGTON (Reuters) -Billionaire Richard Branson’s cash-strapped Virgin Orbit Holdings Inc is near a deal for a $200 million investment from Texas-based venture capital investor Matthew Brown via a private share placement, according to a term sheet seen by Reuters. A successful deal would be a major boost of confidence in the satellite launch company that saw its market capitalization slump to a record low of $150 million on Tuesday from more than $3 billion two years ago when it went public through a blank-check deal. Virgin Orbit has been grappling with dwindling cash and m…

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