Richard Branson Joins Blank-Check Frenzy with $400 Million Deal

(Bloomberg) — Richard Branson is the latest billionaire to join the blank-check listing party after he sold his space tourism business to one.VG Acquisition Corp. filed Wednesday to raise $400 million in a special purpose acquisition company, or SPAC. The company plans to sell 40 million units at $10 apiece, according to its filing with the U.S. Securities and Exchange Commission.The company said it would look at a host of businesses to target for a merger. The possibilities could be as varied as travel, financial services, music and renewable energy. it said.Branson, founder of the VG Acquisition, sold Virgin Galactic …read more

Source:: Yahoo Finance