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0.000973798038815986 0.00153995968929052 -0.0114817582716217 -0.00921711166972398 0.00437076794166277 0.00445003057272921 0.00493692959213711 -0.0171433747763662
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A Space Startup Worth $4 Billion Swears Off Fizzling SPAC Craze [Business News Network (BNN) (Canada)]

Virgin Galactic Holdings, Inc. (SPCE) 
But Tim Ellis, co-founder and chief executive officer of Relativity Space Inc., just isn't interested. Ellis, 31, didn't actively pursue SPACs that approached the company, even during the height of their popularity last year among startups in the fast-growing space economy. Relativity, which makes 3D-printed and reusable rockets, has instead raised $1.3 billion through private rounds and was valued at $4.2 billion in June after backing from investors including Fidelity Management & Research Company LLC, Mark Cuban and Jared Leto. The next step in the San Carlos, California-based company's fundraising plans: “Not SPACs,” Ellis said. “Some others tried SPACs when they were hot, but we were able to get private rounds done by high-quality investors,” he said in an interview. “We're focused on staying private as long as we can, and capital availability is high.” Increasing Pressure SPACs and other speculative investments have come under increasing pressure this year as markets b Show less Read more
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