The company’s rocket LV0007 launched from the Pacific Spaceport Complex in Kodiak, Alaska, carrying a test payload for the U.S. Space Force.
Branson has cashed out more than $1 billion of Virgin Galactic shares since the pandemic began.
British billionaire Richard Branson has sold off a further $300m worth of stock in his space venture Virgin Galactic, taking the total offloaded this year to some $600m.
SpaceX has an agreement with new and existing investors to sell up to $755 million in stock from company insiders at $560 a share, according to people familiar with the deal.
Redwire is the sixth space company to close a SPAC deal and go public this year – following AST & Science, Astra, Spire Global, Momentus and Rocket Lab.
The company’s LV0006 rocket tilted and slid sideways a moment after getting off the ground in Alaska, which Astra CEO Chris Kemp told CNBC was due to one of its five engines shutting down.
The rocket did not lift off the ground due to the launch abort, and Astra said it will investigate the cause of the issue. The company hopes to make another attempt at launching as soon as Saturday.
Rocket Lab began trading on the Nasdaq on Wednesday, becoming the latest space company to close a merger with a special purpose acquisition company and go public.
Virgin Galactic founder Richard Branson sold more than 10 million shares of his space-tourism company earlier this week, just one month after enjoying his own personal, televised suborbital rocket ride viewed by millions of people on planet Earth.
“In terms of value for investors, I think we’re well positioned to meet some big market trends,” Momentus CEO John Rood, who began leading the company on Aug. 1, told CNBC.