- SpaceX, led by Elon Musk, plans to sell insider shares at a price that would increase the company's valuation to approximately $150 billion. The aerospace manufacturer and space transportation company is reportedly initiating a $750 million tender offer, with shares being offered at over $80 each.
- In January, SpaceX raised $750 million, valuing the company at $137 billion. If successful, the current offer would increase its valuation to $150 billion. SpaceX holds around $5 billion in cash. The company has not responded to comment requests. The size of the tender offer may change based on interest from insider sellers and buyers.
Why it matters
Last Friday, SpaceX achieved a successful deployment of over 50 satellites, expanding its constellation for providing broadband internet coverage to the Earth. Investors are paying close attention to see if Elon Musk will follow through on his suggestion of spinning off Starlink once cash flow becomes more predictable.
