Virgin Galactic falls after unveiling 1-for-20 reverse stock split

** Shares of space tourism company Virgin Galactic Holdings SPCE down ~13% at $0.74 after the bell

** Co says board has approved a 1-for-20 reverse stock split of its common stock

** Co aims to increase per share market price of its common stock to meet minimum per share bid price requirement for continued listing on the NYSE with the stock split

** SPCE has ~411.36 mln shares outstanding, with a market value of about $350 mln - LSEG

** Reverse stock split expected to be effective after markets close on Friday, June 14 and expected to commence trading on a split-adjusted basis when market opens on Monday, June 17

** SPCE has fallen 65% YTD, as of last close