David Rosenthal: uncertainty

Transcript context

…SPACs at this point are for bad companies. This is a way to get crappy companies public and whatever he buys for this thing can't be good. The counter argument to that is whatever he's buying here is nontraditional. It is something that most traditional retail investors with some specific time horizon and herd mentality wouldn't be taking public the normal way or investing in the normal way. At the very least, whatever he's going to buy here is likely their only or one of a limited set of options that they have. Indeed. I don't know the actual story of how they got introduced. I wonder if Hedosophia and Ian had something to do with it, given that they're based in the UK, as is Branson, of course. Anyway, after the Saudi deal falls apart for Virgin Galactic, they get introduced and it's a perfect match. By mid-2019, they agreed to a deal and on October 28, 2019, it's finalized. IPOA, Hedosophia Capital, Hedosophia 1 “de-SPACs,” which merges with Virgin Galactic bringing Virgin Galactic to the public market. It’s now a publicly traded company under the ticker symbol for the company changes from IPOA to the very appropriate SPCE. Love it.…

Stored transcript either side of the excerpt. The highlighted words are the published quote; the surrounding text is unedited source, never generated.