Richard Bransons Virgin Orbit, with a rocket under the wing of a modified Boeing 747 jetliner, takes off for a crucial drop test of its high-altitude launch system for satellites from Mojave, California, July 10, 2019. ReutersVirgin Orbit, the satellite-launching spinoff of Sir Richard Bransons Virgin Galactic, is in advanced conversations to go public at about a $3 billion valuation through a SPAC led by a former Goldman Sachs partner, CNBC confirmed Saturday.The company is in talks on a deal with NextGen Acquisition II, an individual familiar with the discussions informed CNBC. Virgin Orbit is privately held by Bransons multinational conglomerate Virgin Group, with a minority stake from Abu Dhabi sovereign wealth fund Mubadala.The businesss very first demonstration launch in May 2020.