Virgin Galactic plans to complete a 1-for-20 reverse stock split on June 17, 2024. All holders of SPCE will receive 1 share of SPCE in exchange for every 20 SPCE shares held at the close of trading on June 14, 2024.

This will affect all SPCE shareholders. Due to this reverse stock split, scheduled orders for SPCE will not be accepted between market close on June 14, 2024 and market open on June 17, 2024

What does this mean?

With the reverse stock split, SPCE shares will be combined into larger pieces. This will increase the price of each share. To ensure that all shareholders' value remains the same, Virgin Galactic shareholders will have their share quantity reduced.

How will this impact my holdings?

Your total number of SPCE shares will decrease while the price per share will increase.

For example: if you have 40 shares of Virgin Galactic stock, during this 1-for-20 reverse stock split, Virgin Galactic will grant you 1 share in exchange for every 20 shares you own. However the value of each share should initially be around 20 times the original price. This will result in you holding a smaller number of total shares, with each share being worth a greater value.

After the reverse split is completed, 1 SPCE share will be equivalent to 20 original SPCE shares.

How can I calculate the number of shares I will own?

To calculate the number of shares that you will now own after the split, follow the math below:

Shares previously owned x 1/20 = New amount of shares held

For example:
Before the split you owned 60 shares of Virgin Galactic.
Use the equation above (60 previously owned shares x 1/20)
You now own 3 shares of SPCE

Note: Virgin Galactic's historical graphs will be updated to take the split into account.

If you have more questions regarding this reverse stock split and how it may affect shares you’re holding, please refer to Virgin Galactic’s Investor Relations website.

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