SpaceX, a spacecraft engineering company, founded by the billionaire Elon Musk is reportedly looking to raise about $1 billion. This would mark the company's valuation at $150 billion. This would be more than the valuation marked earlier this year of $125 billion. The development has been reported by Reuters. The report said that SpaceX is looking to sell its shares for $85 apiece. Investors could get the new shares either when they are issued by SpaceX or through private placement if employees want to sell their shares or through a tender offer. The report said that the primary raise could bring around $1 billion for the company.
SpaceX, being one of the most valuable private companies in the world, has regularly offered liquidity programs for employees so that they can sell their shares in the secondary market whenever they need money. This allows the company to keep itself from having the need to go public to raise capital.
Elon Musk also Plans to do the Same with Twitter
Elon Musk has said that he plans to offer the same sort of liquidity program for Twitter. A few weeks back, Musk purchased the microblogging platform for $4 billion. The space market segment is heating up, with big names such as Amazon and Richard Branson's Virgin Galactic also stepping foot in the competition with SpaceX.
SpaceX has been loved by investors because, throughout this year, the company has been able to deliver multiple breakthroughs. SpaceX launched Falcon Heavy, which is also known as the world's most powerful active rocket. This launch came for the first time in more than three years. Further, the company is planning to launch its giant Starship rocket system into orbit for the first time this December.
SpaceX also Owns Starlink
SpaceX also owns the space broadband company Starlink. Through Starlink, Musk plans to offer space broadband services across the world. Starlink, unfortunately, couldn't tap into the Indian market, which could have been one of the biggest markets for the company. Starlink is yet to get a license in India for offering satellite broadband services. OneWeb, its prime competitor in many major markets, has received the license for the Indian market.