(Reuters) – Campaign investor Chamath Palihapitiya confirmed Saturday in a tweet that he has freed up some capital by selling shares in Virgin Galactic Holdings Inc, for investing at scale without influencing its pace and strategic vision.
“I hated it but my balance sheet cried for almost $ 2B this week,” he tweeted. here thread, adding a sad emoji.
In the long tweet thread, citing a review and redesign of everything he submitted, Palihapitiya also clarified that he did not sell shares of any other SPAC he launched. .
Management filing showed that Palihapitiya sold 6.2 million shares in the space tourism company it helped publicly in 2019, for about $ 213 million.
In an emailed statement through a spokesman on Friday, Palihapitiya said he would divert the money from the sale of the shares towards a “major investment” with a focus on the fight against climate change.
Virgin Galactic did not immediately respond to a request for comment.
Reporting by Maria Ponnezhath in Bengaluru; Edited by David Gregorio