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International aerospace company Boeing announced plans Tuesday to invest $20 million in Virgin Galactic as it prepares for commercial takeoff.
As part of the proposed deal, Boeing would receive shares in Virgin Galactic — set to close a public merger with Silicon Valley's Social Capital Hedosophia Holdings Corp. by year's end — in return for the investment. Virgin Galactic has invested $1 billion to build reusable human spaceflight systems to date, according to a Boeing release.
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Boeing to invest $20 million in Virgin Galactic