- NASA has selected Virgin Orbit Holdings Inc (NASDAQ:VORB) to provide launch services through Venture-Class Acquisition of Dedicated Rideshare (VADR) contract.
- The contract has a five-year ordering period with a maximum total value of $300 million and will be managed by the Launch Services Program at NASA's Kennedy Space Center in Florida.
- "The VADR contract vehicle now provides a platform for NASA to more easily contract for flights on our LauncherOne service," said Dan Hart, CEO of Virgin Orbit.
- The fixed-price IDIQ contract will leverage commercial satellite launch practices and flexibility afforded by Virgin Orbit's LauncherOne system.
- Virgin Orbit has already launched thirteen satellites to space for NASA.
- Price Action: VORB shares traded higher by 2.28% at $8.06 on the last check Thursday.
