Social Capital defies IPO lull with $720m blank-check deal

Social Capital defies IPO lull with $720m blank-check deal

Source: Aditya Vyas/Unsplash

Virgin Galactic Holdings Inc Chairman Chamath Palihapitiya is looking to raise $720 million on Tuesday for a new blank-check company, 20% more than its original target, after the coronavirus crisis upended plans last month, according to a person familiar with the matter.

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