Virgin Galactic Holdings Inc is trading 5.9% down at $4.32 in pre-market following news that the company will redeem up to $30.5 million of high-interest debt by issuing new shares instead of paying cash.
- The move to settle debt through equity issuance has triggered dilution risks, extending a sharp selloff observed during Tuesday's session.
- The stock previously plunged approximately 36% on June 2 due to similar dilution concerns, following a volatile period where shares had rallied roughly 200%.