Virgin Galactic

Chamath used a SPAC to fast-track Virgin Galactic public

Shaan explains how Chamath's Social Capital used a SPAC—a special purpose vehicle for taking companies public—to acquire a stake in Virgin Galactic, giving it a fast track to public liquidity without an independent listing.

“one of the things he does now is he has this thing called a SPAC, which is his special purpose vehicle for taking companies public. So you're a company, you don't want to go public, he's already public, and he just acquires a stake, you know, a stake in your company, I believe, is how the mechanics work. So they just did this with Virgin Galactic, and so it's like a fast track to being public”