Virgin Galactic Holdings Inc (SPCE)

[SilverKnightLV]

For those wondering about warrant dilution. The dilution was baked in from Day 1 in the initial filings for the business combination. In fact, the last S1 filing LOWERED (fractionally) the number of underlying shares. Here's the numbers:
30,998,625 shares of common stock issuable upon the exercise of 30,998,625 issued and outstanding warrants to purchase the registrant’s common stock.
Shares of Common Stock Outstanding Prior to Exercise of All Warrants 195,154,475 (as of February 5, 2020)
Shares of Common Stock Outstanding Assuming Exercise of All Warrants 226,153,100 (based on total shares outstanding as of February 5, 2020)
Dilution = 15.89%