According to Reuters, Virgin is planning an IPO as part of a deal with a special purpose acquisition company created by Social Capital CEO Chamath Palihapitiya.

SPAC's typically have two years to raise money from investors and spend it to help take a company public.

The SPAC will reportedly invest about $800 million for a 49% stake in Virgin Galactic, according to the Wall Street Journal. That includes about $100 million that Palihapitiya is personally committing to the deal. Virgin's existing investors will be left with a 51% stake, will retain control of the company.

Virgin has already collected some $80 million in deposits from customers who hope to be among the first tourists traveling to space, at a clip of $200,000 to $250,000 per seat. The company has raised $1 billion since 2004, mostly from Branson's personal fortune.

Branson will be among the first travelers, and plans to be the first non-crew member to board the plane.