Rich Huang’s RichRich Capital disclosed a 5.26% stake in Virgin Galactic through 4.87 million shares and call options on 4.57 million shares. Virgin Galactic’s shares surged 160% in May as it secured preliminary approval for a $2.75 million litigation settlement (retaining $1.375 million) and targets Q3 glide tests, Q4 rocket flights, and commercial service.
RichRich Capital LLC, led by investor Rich Huang, disclosed a combined 5.26% position in Virgin Galactic through 4.87 million Class A shares and call options on 4.57 million additional shares, plus personal call options totaling 708,500 shares held by Huang.
Virgin Galactic received preliminary court approval for a shareholder derivative settlement that would deliver a $2.75 million payment from insurers, with the company set to retain $1.375 million upon final approval; defendants have denied any wrongdoing.
Shares jumped 160% in May and rose 20% in recent overnight trading as Virgin Galactic plans Q3 Delta spacecraft glide tests, Q4 rocket-powered flights, and commercial service later this year, boosted by renewed investor interest from SpaceX’s anticipated IPO.
