This is a milestone for Richard Branson’s space tourism venture.

According to a source familiar with the matter at hand, Virgin Galactic, Richard Branson’s space-tourism venture, plans to go public as part of a deal with a special-purpose acquisition company (SPAC) created by Social Capital LP Chief Executive Officer Chamath Palihapitiya.

The Wall Street Journal had reported on the deal earlier saying, the Social Capital Hedosophia Holdings Corp will be investing around $800 million for a 49% stake in Virgin Galactic.

The deal could be officially announced later on Tuesday, said the source, who preferred the cover of anonymity given that the matter is confidential.

Neither Virgin Galactic nor Social Capital Hedosophia responded to requests for comments.

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Tags: acquisition company, Chamath Palihapitiya, go public, invest, IPO, Richard Branson, Social Capital LP, SPAC, space tourism, special-purpose, stake, vehicle, venture, Virgin Galactic, Wall Street Journal, WSJ