NASA Picks Virgin Orbit To Provide Launch Services Through VADR Contract

January 27, 2022 3:43 PM | 1 min read | Make a Comment

NASA has selected Virgin Orbit Holdings Inc 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.

Posted In: News Contracts Movers Trading Ideas Briefs

Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.