¶Virgin Galactic & Social Capital released info on their proposed merger. SEC filings (in the form of a 100-slide deck) contain illuminating information about Virgin’s plans and expectations for the high-net-worth space tourism industry. Currently, the company has over 600 flights reserved, more than $80 million in deposits, and is expecting to clear $820,000 per flight at scale. These numbers back up plans to build four more SpaceShipTwo vehicles by 2023 while increasing launch cadence to (an insane sounding) once per week per vehicle (meaning they would eventually launch every 32 hrs). This is particularly impressive since SS2 requires a new, non-reusable RocketMotorTwo for each flight. The merger is peculiar since a no-vote by Social Capital shareholders on an upcoming extension request would see the publicly-listed fund liquidated and it’s $700+ million in cash returned to investors. If the merger does go through, Virgin will become the first publicly listed space tourism company.