Virgin Galactic Holdings, Inc (SPCE) - Dilution Analysis
Visualizing historical and potential share dilution over time
Dilution Analysis
Risk Assessment Details
Summary
SPCE currently has 81.4M outstanding shares. with limited dilution risk as only 7.77M additional shares (9.5%) are authorized for issuance. The company has significantly diluted shareholders by 188.79% over the past 2 years, indicating aggressive capital raising. Recent corporate actions include 1 stock split (positive for accessibility) and 1 reverse split (concerning signal).
Share Structure Timeline
Historical Data Points
| Date | Event | Outstanding | Supply |
|---|---|---|---|
| May 14, 2026 |
S-3 filing: The Company is registering up to $40,210,671.70 of various securities, including common stock, preferred stock, debt securities, depositary shares, warrants, purchase contracts, and units. |
81M | 7.8M |
| May 14, 2026 |
10-Q filing | 100.7M shares outstanding |
100M | 0 |
| Mar 30, 2026 |
10-K filing | 81.4M shares outstanding |
81M | 7.8M |
| Jan 09, 2026 |
S-3 filing: This is an S-3 filing for Virgin Galactic Holdings, Inc. relating to the resale of up to 68,061,371 shares of common stock by selling stockholders, which consists of shares issuable upon the exercise of purchase warrants and shares issuable upon redemption of first lien notes. |
59M | 30M |
| Dec 09, 2025 |
S-3 filing: Virgin Galactic Holdings, Inc. is offering up to $45,588,728.57 of common stock through an at-the-market offering via Jefferies LLC as agent, with the proceeds intended for development of next-generation spaceflight fleet and general corporate purposes. |
59M | 0 |
| Nov 13, 2025 |
10-Q filing | 59.3M shares outstanding |
59M | 0 |
| Aug 06, 2025 |
10-Q filing | 57.6M shares outstanding |
58M | 0 |
| May 15, 2025 |
10-Q filing | 41.6M shares outstanding |
42M | 0 |
| Feb 26, 2025 |
10-K filing | 35.5M shares outstanding |
36M | 0 |
| Feb 26, 2025 |
POS AM filing: This POS AM filing discusses the potential offering of depositary shares representing preferred stock, outlining the rights, preferences, and distribution procedures associated with these shares. |
28M | 0 |
| Nov 07, 2024 |
8-K filing: Virgin Galactic Holdings, Inc. terminated its distribution agency agreement with Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC on November 4, 2024. Prior to termination, the company sold 12.8 million shares of common stock for $396.2 million of gross proceeds. The Company also entered into an Open Market Sale AgreementSM with Jefferies LLC for the offer and sale of up to $300,000,000 of shares of the Company's common stock. ($396.2M proceeds) |
28M | 0 |
| Nov 06, 2024 |
10-Q filing | 28.0M shares outstanding |
28M | 0 |
| Aug 07, 2024 |
10-Q filing | 28.5M shares outstanding |
28M | 0 |
| Jun 17, 2024 |
Stock Split
8-K filing: Stock split 1-for-20 | Outstanding: 400,387,000 → 20,019,350 |
20M | 0 |
| May 07, 2024 |
10-Q filing | 400.4M shares outstanding |
400M | 0 |
| Feb 27, 2024 |
10-K filing | 400.0M shares outstanding |
400M | 0 |
| Nov 09, 2023 |
10-Q filing | 375.9M shares outstanding |
380M | 0 |
| Aug 01, 2023 |
10-Q filing | 367.1M shares outstanding |
370M | 0 |
| Jun 22, 2023 |
8-K filing: Virgin Galactic Holdings, Inc. entered into a distribution agency agreement with Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC for the offer and sale of up to $400,000,000 of shares of the Company's common stock. ($300.0M proceeds) |
280M | 0 |
| May 09, 2023 |
10-Q filing | 278.5M shares outstanding |
280M | 0 |
| Feb 28, 2023 |
10-K filing | 263.9M shares outstanding |
260M | 0 |
| Nov 03, 2022 |
10-Q filing | 263.9M shares outstanding |
260M | 0 |
| Aug 04, 2022 |
10-Q filing | 258.6M shares outstanding |
260M | 0 |
| May 05, 2022 |
10-Q filing | 258.3M shares outstanding |
260M | 0 |
| Feb 28, 2022 |
10-K filing | 247.6M shares outstanding |
250M | 0 |
| Jan 20, 2022 |
8-K filing: Virgin Galactic Holdings, Inc. issued $425,000,000 principal amount of 2.50% Convertible Senior Notes due 2027 and granted initial purchasers an option to purchase up to an additional $75,000,000 principal amount of Notes, which may result in the issuance of up to 42,372,840 shares of common stock upon conversion. |
260M | 0 |
| Nov 08, 2021 |
10-Q filing | 255.1M shares outstanding |
260M | 0 |
| Aug 05, 2021 |
10-Q filing | 240.7M shares outstanding |
240M | 0 |
| Jun 17, 2021 |
S-3/A filing: Virgin Galactic Holdings, Inc. is offering common stock, preferred stock, debt securities, depositary shares, and purchase contracts up to an aggregate amount of $1,000,000,000 from time to time in one or more offerings. |
240M | 0 |
| May 28, 2021 |
S-3 filing: Virgin Galactic Holdings, Inc. files an S-3 registration statement for an unspecified amount of securities, including common stock, preferred stock, debt securities, depositary shares and purchase contracts, up to an aggregate of $1,000,000,000. The company also registers 2,666,667 shares of common stock issuable upon the exercise of outstanding warrants. |
240M | 0 |
| May 11, 2021 |
10-Q filing | 240.7M shares outstanding |
240M | 0 |
| Mar 01, 2021 |
10-K filing | 236.9M shares outstanding |
240M | 0 |
| Nov 16, 2020 |
POS AM filing: This is a post-effective amendment to convert the registration statement on Form S-1 into a registration statement on Form S-3 and to include updated information regarding the selling stockholders named in the prospectus, including a reduction in the number of shares of common stock being offered by the selling stockholders to 112,964,840 shares of common stock. |
230M | 0 |
| Nov 06, 2020 |
10-Q filing | 234.3M shares outstanding |
230M | 140M |
| Aug 03, 2020 |
S-1 filing: Virgin Galactic Holdings, Inc. is offering 20,489,977 shares of their common stock. |
210M | 160M |
| Aug 03, 2020 |
10-Q filing | 210.4M shares outstanding |
210M | 160M |
| Jul 31, 2020 |
8-K filing: Vieco 10 Limited distributed 77,290,438 shares of Virgin Galactic Holdings, Inc. common stock to its existing stockholders, with 62,403,260 shares going to Virgin Investments Limited (VIL) and 14,887,178 shares to Aabar Space, Inc. |
140M | 200M |
| May 11, 2020 |
S-1/A filing: This S-1/A filing relates to the resale of up to 150,464,840 shares of common stock by selling stockholders, including 142,464,840 outstanding shares and 8,000,000 shares issuable upon warrant exercise. |
140M | 200M |
| May 06, 2020 |
10-Q filing | 210.4M shares outstanding |
210M | 140M |
| May 01, 2020 |
S-1 filing: Virgin Galactic Holdings, Inc. is filing an S-1 to register the resale of up to 150,464,840 shares of common stock by selling stockholders, including 142,464,840 outstanding shares and 8,000,000 shares issuable upon the exercise of warrants. |
200M | 150M |
| Mar 16, 2020 |
RW filing: This is a request for the withdrawal of a registration statement on Form S-1 because the company no longer wishes to conduct a public offering of securities as contemplated by the Registration Statement. |
200M | 0 |
| Feb 28, 2020 |
S-1/A filing: Virgin Galactic Holdings, Inc. is offering 27,457,235 shares of common stock issuable upon the exercise of warrants at an exercise price of $11.50 per share. |
200M | 27M |
| Feb 28, 2020 |
10-K filing | 195.8M shares outstanding |
200M | 27M |
| Feb 14, 2020 |
S-1/A filing: Virgin Galactic Holdings, Inc. may issue up to 30,998,625 shares of common stock upon exercise of warrants at $11.50 per share. |
200M | 31M |