The valuation of by Elon Musk SpaceX has hit nearly $150 billion following a share sale by existing investors announced this week, CNBC has learned.
SpaceX has an agreement with new and existing investors to sell up to $750 million worth of stock from insiders for $81 a share, according to a copy of the purchase offer submitted. by CFO Bret Johnsen on Thursday, obtained by CNBC.
The company has not announced a new capital raise at this time, with the buy offer representing a secondary sale of existing shares. Musk in April said that the company “didn’t anticipate needing to raise capital” to further strengthen programs for Starship, Starlink, and other initiatives. SpaceX typically does these secondary rounds about twice a year, to give the company an opportunity for employees and other shareholders to sell stock.
A Starship prototype stands on the company’s launch pad in Boca Chica, Texas on March 16, 2022.
space
SpaceX continues to spend heavily on the development of the next-generation Starship rocket. Musk expects the company to spend about $2 billion on developing the vehicle this year. The first Starship flight left the launch pad and achieve many milestones, but also many problems. SpaceX is preparing to attempt a second launch in the coming months, but is awaiting approval from the Federal Aviation Administration to do so. The The FAA is also fighting an environmental lawsuit about how it regulates SpaceX’s Starship.
But SpaceX has remained silent about the IPO potential of its Starlink business. President Gwynne Shotwell said earlier this year that “there are no updates.” Last year, CNBC reported that Musk has told employees that the company won’t take Starlink public until 2025 or later.
