0001193125-20-076108.txt : 20200317 0001193125-20-076108.hdr.sgml : 20200317 20200317170136 ACCESSION NUMBER: 0001193125-20-076108 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20200317 DATE AS OF CHANGE: 20200317 GROUP MEMBERS: CORVINA HOLDINGS LTD GROUP MEMBERS: SIR RICHARD BRANSON GROUP MEMBERS: VIECO 10 LTD GROUP MEMBERS: VIRGIN GROUP HOLDINGS LTD GROUP MEMBERS: VIRGIN GROUP INVESTMENTS LLC GROUP MEMBERS: VIRGIN INVESTMENTS LTD SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Virgin Galactic Holdings, Inc CENTRAL INDEX KEY: 0001706946 STANDARD INDUSTRIAL CLASSIFICATION: TRANSPORTATION SERVICES [4700] IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-90109 FILM NUMBER: 20721807 BUSINESS ADDRESS: STREET 1: 166 NORTH ROADRUNNER PARKWAY, SUITE 1C CITY: LAS CRUCES STATE: NM ZIP: 88011 BUSINESS PHONE: (661) 824-6690 MAIL ADDRESS: STREET 1: 166 NORTH ROADRUNNER PARKWAY, SUITE 1C CITY: LAS CRUCES STATE: NM ZIP: 88011 FORMER COMPANY: FORMER CONFORMED NAME: Virgin Galactic Vehicle Holdings, Inc DATE OF NAME CHANGE: 20191025 FORMER COMPANY: FORMER CONFORMED NAME: Social Capital Hedosophia Holdings Corp. DATE OF NAME CHANGE: 20170517 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Vieco USA, Inc. CENTRAL INDEX KEY: 0001791281 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: LA MOTTE CHAMBERS CITY: ST HELIER STATE: Y9 ZIP: X0 JE1 1BJ BUSINESS PHONE: 442074662766 MAIL ADDRESS: STREET 1: LA MOTTE CHAMBERS CITY: ST HELIER STATE: Y9 ZIP: X0 JE1 1BJ SC 13D/A 1 d865067dsc13da.htm SC 13D/A SC 13D/A

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 1)*

 

 

Virgin Galactic Holdings, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

92766K106

(CUSIP Number)

James Cahillane

Virgin Management USA, Inc.

65 Bleecker Street, 6th Floor,

New York, NY 10012

(212) 497-9050

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

March 16, 2020

(Date of Event Which Requires Filing of This Statement)

 

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box.  ☐

 

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent.

 

 

 

 

*

The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

  1   

Names of Reporting Persons

 

Vieco USA, Inc.

  2  

Check the Appropriate Box if a Member of a Group

(a)  ☒    (b)  ☐

 

  3  

SEC Use Only

 

  4  

Source of Funds (See Instructions)

 

OO

  5  

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)  ☐

 

  6  

Citizenship or Place of Organization

 

Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

      7    

Sole Voting Power

 

0

     8   

Shared Voting Power

 

0

     9   

Sole Dispositive Power

 

0

   10   

Shared Dispositive Power

 

0

11  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

0

12  

Check if the Aggregate Amount in Row (11) Excludes Certain Shares  ☐

 

13  

Percent of Class Represented by Amount in Row (11)

 

0%

14  

Type of Reporting Person

 

CO

  1   

Names of Reporting Persons

 

Vieco 10 Limited

  2  

Check the Appropriate Box if a Member of a Group

(a)  ☒    (b)  ☐

 

  3  

SEC Use Only

 

  4  

Source of Funds (See Instructions)

 

OO

  5  

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)  ☐

 

  6  

Citizenship or Place of Organization

 

Bristish Virgin Islands

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

      7    

Sole Voting Power

 

0

     8   

Shared Voting Power

 

114,790,438

     9   

Sole Dispositive Power

 

0

   10   

Shared Dispositive Power

 

114,790,438

11  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

114,790,438

12  

Check if the Aggregate Amount in Row (11) Excludes Certain Shares  ☐

 

13  

Percent of Class Represented by Amount in Row (11)

 

58.6%

14  

Type of Reporting Person

 

CO

  1   

Names of Reporting Persons

 

Virgin Investments Limited

  2  

Check the Appropriate Box if a Member of a Group

(a)  ☒    (b)  ☐

 

  3  

SEC Use Only

 

  4  

Source of Funds (See Instructions)

 

OO

  5  

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)  ☐

 

  6  

Citizenship or Place of Organization

 

British Virgin Islands

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

      7    

Sole Voting Power

 

0

     8   

Shared Voting Power

 

114,790,438

     9   

Sole Dispositive Power

 

0

   10   

Shared Dispositive Power

 

114,790,438

11  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

114,790,438

12  

Check if the Aggregate Amount in Row (11) Excludes Certain Shares  ☐

 

13  

Percent of Class Represented by Amount in Row (11)

 

58.6%

14  

Type of Reporting Person

 

CO

  1   

Names of Reporting Persons

 

Virgin Group Investments LLC

  2  

Check the Appropriate Box if a Member of a Group

(a)  ☒    (b)  ☐

 

  3  

SEC Use Only

 

  4  

Source of Funds (See Instructions)

 

OO

  5  

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)  ☐

 

  6  

Citizenship or Place of Organization

 

Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

      7    

Sole Voting Power

 

0

     8   

Shared Voting Power

 

114,790,438

     9   

Sole Dispositive Power

 

0

   10   

Shared Dispositive Power

 

114,790,438

11  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

114,790,438

12  

Check if the Aggregate Amount in Row (11) Excludes Certain Shares  ☐

 

13  

Percent of Class Represented by Amount in Row (11)

 

58.6%

14  

Type of Reporting Person

 

OO (Limited liability company)

  1   

Names of Reporting Persons

 

Corvina Holdings Limited

  2  

Check the Appropriate Box if a Member of a Group

(a)  ☒    (b)  ☐

 

  3  

SEC Use Only

 

  4  

Source of Funds (See Instructions)

 

OO

  5  

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)  ☐

 

  6  

Citizenship or Place of Organization

 

British Virgin Islands

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

      7    

Sole Voting Power

 

0

     8   

Shared Voting Power

 

114,790,438

     9   

Sole Dispositive Power

 

0

   10   

Shared Dispositive Power

 

114,790,438

11  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

114,790,438

12  

Check if the Aggregate Amount in Row (11) Excludes Certain Shares  ☐

 

13  

Percent of Class Represented by Amount in Row (11)

 

58.6%

14  

Type of Reporting Person

 

CO

  1   

Names of Reporting Persons

 

Virgin Group Holdings Limited

  2  

Check the Appropriate Box if a Member of a Group

(a)  ☒    (b)  ☐

 

  3  

SEC Use Only

 

  4  

Source of Funds (See Instructions)

 

OO

  5  

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)  ☐

 

  6  

Citizenship or Place of Organization

 

British Virgin Islands

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

      7    

Sole Voting Power

 

0

     8   

Shared Voting Power

 

114,790,438

     9   

Sole Dispositive Power

 

0

   10   

Shared Dispositive Power

 

114,790,438

11  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

114,790,438

12  

Check if the Aggregate Amount in Row (11) Excludes Certain Shares  ☐

 

13  

Percent of Class Represented by Amount in Row (11)

 

58.6%

14  

Type of Reporting Person

 

CO

  1   

Names of Reporting Persons

 

Sir Richard Branson

  2  

Check the Appropriate Box if a Member of a Group

(a)  ☒    (b)  ☐

 

  3  

SEC Use Only

 

  4  

Source of Funds (See Instructions)

 

OO

  5  

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)  ☐

 

  6  

Citizenship or Place of Organization

 

United Kingdom

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

      7    

Sole Voting Power

 

0

     8   

Shared Voting Power

 

114,790,438

     9   

Sole Dispositive Power

 

0

   10   

Shared Dispositive Power

 

114,790,438

11  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

114,790,438

12  

Check if the Aggregate Amount in Row (11) Excludes Certain Shares  ☐

 

13  

Percent of Class Represented by Amount in Row (11)

 

58.6%

14  

Type of Reporting Person

 

IN

Explanatory Note

This Amendment No. 1 to Schedule 13D (“Amendment No. 1”) amends and supplements the Schedule 13D filed with United States Securities and Exchange Commission on November 4, 2019 (the “Schedule 13D”) relating to the common stock, par value $0.0001 per share (the “Common Stock”), of Virgin Galactic Holdings, Inc., a Delaware corporation (the “Issuer”). Capitalized terms used herein without definition shall have the meaning set forth in the Schedule 13D.

 

Item 5.

Interest in Securities of the Issuer.

Item 5 of the Schedule 13D is hereby amended and restated in its entirety as follows:

(a) – (b)

The following sets forth, as of the date of this Schedule 13D, the aggregate number of shares of Common Stock and percentage of Common Stock beneficially owned by each of the Reporting Persons, as well as the number of shares of Common Stock as to which each Reporting Person has the sole power to vote or to direct the vote, shared power to vote or to direct the vote, sole power to dispose or to direct the disposition of, or shared power to dispose or to direct the disposition of, as of the date hereof, based on 195,769,015 shares of Common Stock outstanding as of February 26, 2020:

 

Reporting Person(1)

    Amount
beneficially
owned		      Percent
of class		     Sole
power to
vote or to
direct the
vote		      Shared
power to
vote or to
direct the
vote		      Sole power
to dispose
or to direct
the
disposition		      Shared
power to
dispose or to
direct the
disposition		  

Vieco USA, Inc.

      0        0 %      0        0        0        0  

Vieco 10 Limited

      114,790,438        58.6 %      0        114,790,438        0        114,790,438  

Virgin Investments Limited

      114,790,438        58.6 %      0        114,790,438        0        114,790,438  

Virgin Group Investments, LLC

      114,790,438        58.6 %      0        114,790,438        0        114,790,438  

Corvina Holdings Limited

      114,790,438        58.6 %      0        114,790,438        0        114,790,438  

Virgin Group Holdings Limited

      114,790,438        58.6 %      0        114,790,438        0        114,790,438  

Sir Richard Branson

      114,790,438        58.6 %      0        114,790,438        0        114,790,438  

 

(1)

Does not include shares held by SCH Sponsor Corp. (“Sponsor”) and Chamath Palihapitiya, and the Reporting Persons expressly disclaims beneficial ownership of the shares of Common Stock held by Sponsor and Mr. Palihapitiya.

V10 is the record holder of the securities reported herein. The majority owner of V10 is VIL, whose sole shareholder is VGIL, whose sole managing member is Corvina, whose sole shareholder is VGHL. As a result, each of the foregoing entities may be deemed to share beneficial ownership of the securities held of record by V10.

Sir Richard Branson owns and has the ability to appoint and remove the management of VGHL and, as such, may indirectly control the decisions of VGHL, regarding the voting and disposition of securities owned by VGHL. Therefore, Sir Richard Branson may be deemed to have indirect beneficial ownership of the securities owned by VGHL.

 

(c)

On March 16, 2020, Vieco US distributed all shares of Common Stock to V10 for no consideration. Other than this distribution, none of the Reporting Persons or Related Persons has effected any transactions in the Common Stock since the filing of the Schedule 13D.

 

(d)

None.

 

(e)

This Amendment No. 1 is being filed to report that, as of March 16, 2020, Vieco US ceased to be the beneficial owner of more than five percent of the outstanding Common Stock.

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date: March 17, 2020

 

VIECO USA, INC.
By:   /s/ James Cahillane
Name:   James Cahillane
Title:   Attorney-in-fact
VIECO 10 LIMITED
By:   /s/ James Cahillane
Name:   James Cahillane
Title:   Attorney-in-fact
VIRGIN INVESTMENTS LIMITED
By:   /s/ James Cahillane
Name:   James Cahillane
Title:   Attorney-in-fact
VIRGIN GROUP INVESTMENTS LLC
By:   /s/ James Cahillane
Name:   James Cahillane
Title:   Attorney-in-fact
CORVINA HOLDINGS LIMITED
By:   /s/ James Cahillane
Name:   James Cahillane
Title:   Attorney-in-fact

VIRGIN GROUP HOLDINGS LIMITED
By:   /s/ James Cahillane
Name:   James Cahillane
Title:   Attorney-in-fact
SIR RICHARD BRANSON
By:   /s/ James Cahillane
Name:   James Cahillane
Title:   Attorney-in-fact