SPCE is trading 5.8% down now at $3.00 after announcing a $52.5 million convertible notes exchange aimed at reducing its 2027 debt obligations.
- The deal is designed to strengthen the balance sheet, but investors are reacting negatively to the potential for significant share dilution.
- The stock is extending a sharp downward trend from last week, further weighed down by a broader tech-led market selloff.