Wednesday, January 30, 2019

Virgin Trains is about to offer $500 million worth of stock to fund its Orlando track

Posted By on Wed, Jan 30, 2019 at 2:45 PM

click to enlarge PHOTO VIA BRIGHTLINE
  • Photo via Brightline
Virgin Trains USA, formerly known as Brightline, will offer a common stock to the public estimated by the company to be worth in excess of $500 million, the company announced Wednesday.

The company is offering to sell more than 32.5 million shares of stock at $17 to $19 per share. You can find the shares listed on the Nasdaq stock exchanged under the ticker symbol VTUS.

We've reached out to Virgin Trains for further comment.

The company currently runs a passenger train between Miami, Fort Lauderdale and West Palm Beach, though it plans to expand north to Orlando, which will come with an estimated price tag of $1.9 million. Also among the company's proposals is a $1.7 billion link from Orlando to Tampa, as well as a possible stop near Disney.

Last year, Sir Richard Branson's company the Virgin Group announced it would partner with the private rail enterprise Brightline.

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