The valuation of Elon Musk’s SpaceX has reached nearly $150 billion as a result of a recent share sale by existing investors, according to sources familiar with the matter.
An agreement has been reached between SpaceX and new and existing investors to sell up to $750 million in stock at $81 per share, as stated in a purchase offer sent by CFO Bret Johnsen that was obtained by CNBC.
This stock sale represents a secondary offering of existing shares and does not involve raising new capital at this time. Musk previously stated that the company does not anticipate needing additional funding for its programs, such as Starship and Starlink. SpaceX typically conducts these secondary offerings twice a year to allow employees and other shareholders to sell their stock.
A Starship prototype stands on the company’s launchpad in Boca Chica, Texas on March 16, 2022.
SpaceX
SpaceX continues to heavily invest in the development of its next-generation Starship rocket, with Elon Musk projecting a budget of approximately $2 billion for this year alone. The first Starship flight achieved significant milestones but also encountered various challenges. SpaceX is preparing for a second launch in the near future, pending approval from the Federal Aviation Administration (FAA). The FAA is currently facing an environmental lawsuit regarding its regulation of SpaceX’s Starship program.
As for the potential IPO of Starlink, SpaceX has remained tight-lipped. President Gwynne Shotwell stated earlier this year that there have been no updates on the matter. It was previously reported by CNBC that Musk mentioned the possibility of Starlink going public in 2025 or later.
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