According to a Bloomberg News report on Friday, Elon Musk’s company, SpaceX, is offering insider shares for sale, resulting in a valuation of approximately $150 billion.
The company, which has achieved numerous milestones including being the first private company to send astronauts into orbit, is initially seeking a $750 million tender offer.
In recent years, SpaceX’s valuation has soared due to successful fundraising efforts. Bloomberg reports that the company is offering shares priced above $80 each.
In a previous funding round in January, SpaceX raised $750 million, valuing the company at $137 billion, as reported by CNBC.
According to Bloomberg News, SpaceX currently has $5 billion in cash reserves.
In April, SpaceX experienced a setback when its Starship, the most powerful rocket ever built, exploded on its maiden flight. However, Elon Musk praised his team for their work on this next-generation spacecraft, which aims to transport astronauts to the Moon, Mars, and beyond.
Furthermore, on Friday, SpaceX successfully deployed over 50 additional satellites, expanding its collection for providing broadband internet coverage.
© 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
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Shambhu Kumar is a science communicator, making complex scientific topics accessible to all. His articles explore breakthroughs in various scientific disciplines, from space exploration to cutting-edge research.
