Billionaire Richard Branson To Raise $400 Million
Billionaire Richard Branson To Raise $400 Million

Business Insider reports that billionaire Richard Branson is looking to raise $400 million.

A filing showed that Branson is looking to raise the money in a special purpose acquisition company.

VG Acquisition Corp is the name of the new company.

It intends to sell 40 million units at a price of $10 per unit.

The company said it plans to search for targets that operate in consumer-facing industries in US and Western Europe.