Elon Musk’s company SpaceX is offering to sell insider shares at a price that lifts its valuation to around $150 billion, according to a Bloomberg News report Friday.
The company—the first private company to send astronauts into orbit, among many other firsts—is initially seeking a $750 million tender offer, the report added.
Its valuation has climbed in recent years as it raised billions to finance its work, and according to Bloomberg, SpaceX is offering shares at over $80 apiece.
A CNBC report in January noted that SpaceX was raising $750 million in a round of funding that valued it at $137 billion.
According to Bloomberg News, SpaceX has around $5 billion of cash on its balance sheet.
In April, SpaceX saw the most powerful rocket ever built—Starship—blow up on its first flight, although Musk congratulated his SpaceX team on the test of the next-generation spacecraft designed to send astronauts to the Moon, Mars and beyond.
SpaceX also successfully deployed more than 50 added satellites on Friday, boosting a collection used to beam broadband internet coverage, according to reports.
© 2023 AFP
Citation:
SpaceX tender offer values it at around $150bn: report (2023, June 24)
retrieved 24 June 2023
from https://phys.org/news/2023-06-spacex-tender-values-150bn.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no
part may be reproduced without the written permission. The content is provided for information purposes only.
