Virgin Orbit is set to launch on the NASDAQ, following a merger with SPAC,  NextGen Acquisition Corp

The satellite company owned by Richard Branson plans to merge with special purpose acquisition company, NextGen Acquisition Corp.

The merger, set to be completed by the end of 2021, will see Virgin Orbit list on the NASDAQ under the name “VORB.”

The deal will bring Virgin Orbit $483 million in new capital

$383 million will be stored in NextGen and $100 million from another round of funding. Virgin Orbit says of those investors in that round include Boeing but it’s unclear how much they’ve pitched in.

The $483 million will help Virgin Orbit ramp up “rocket manufacturing to meet customer demand, and to fund growth in its space solutions business and Virgin Orbit’s ongoing product development initiatives,” the company said in a press release.

Indications that Virgin Orbit would go public has been looming for months, mainly after reports emerged earlier this year that the company was shopping for a SPAC with which to merge, required the company to go public.