The captain Reuters
According to copies of the offer obtained by CNBC, SpaceX as well as investors agreed to buy the stock for $185 per share in a $1.25 billion purchase offer. The round does not involve raising new capital, as the purchase offer represents a secondary sale of existing shares.
Specifically, SpaceX is buying up to $500 million in common stock as part of the offering, in an unusual share buyback that reflects the strength of the privately held company’s financial position.
The company routinely conducts these secondary rounds — about twice a year — to give employees and other shareholders the opportunity to sell stock. The latest valuation represents a 67 percent increase for SpaceX. A previous high of $210 billionwhich the company hit through a secondary share sale in June.
SpaceX’s soaring value comes as the company continues to build on its dominant position in the space industry, while Musk has Become an influencer. In the incoming presidential administration
The space company has a near monopoly on the US satellite launch market, which it leads. Workhorse Falcon RocketAs its competitors have struggled. Field operational rockets to compete.
SpaceX’s Starlink satellite Internet business is a key economic driver for the company, which has launched nearly 7,000 satellites to date and boasts a service. Almost five million subscribers.
Meanwhile, his monstrosity Starship Flight tests continue to move forward, representing an effort to build next-generation reusable rockets of unprecedented scale and power.
SpaceX’s latest valuation ranks the company above the market value of top US defense contractors. Among US companies in the S&P 500, SpaceX will rank among the top 25 by market cap. Johnson & Johnson And Bank of AmericaAccording to the fact set.
The company did not immediately respond to CNBC’s request for comment on the sale process. Bloomberg First reported SpaceX’s valuation of $185 per share.
Musk responded to a social media post about the sale of SpaceX shares, writing that “almost no investors wanted to sell shares at the new price of $350 billion”.
“SpaceX reduced the amount of shares it bought back from employees to allow some new investors,” Musk said. wrote.