Virgin Orbit is in final talks to raise funds from Texas-based investor Matthew Brown, two people familiar with the deal told CNBC, amounting to an injection of $200 million.

Virgin Orbit and Brown began deal talks last week, one of the people said, around the same time the company announced it was pausing operations and furloughing most employees to seek a financial lifeline. Brown would get a controlling stake in the rocket builder, according to the people, who asked to remain anonymous to discuss private negotiations.

The parties aim to close the deal as soon as Thursday, the people said.

At the same time, one person familiar with the matter said, the company has continued to talk to another, yet unnamed potential investor, who was in discussion with Virgin Orbit prior to the talks with Brown.

Read more: https://www.cnbc.com/2023/03/22/virgin-orbit-nears-funding-deal.html