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SpaceX tender offer values it at around USD150billion

WASHINGTON (AFP) – Elon Musk’s company SpaceX is offering to sell insider shares at a price that lifts its valuation to around USD150 billion, according to a Bloomberg News report on Friday.

The company – the first private company to send astronauts into orbit, among many other firsts – is initially seeking a USD750 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 USD80 apiece.

A CNBC report in January noted that SpaceX was raising USD750 million in a round of funding that valued it at USD137 billion.

According to Bloomberg News, SpaceX has around USD5 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.

A SpaceX Falcon 9 rocket and the Dragon spacecraft at NASA’s Kennedy Space Center in Florida. PHOTO: XINHUA