According to sources familiar with the matter, Elon Musk’s aerospace company SpaceX is initiating a tender offer to sell insider shares at a price that would elevate the company’s valuation to around $150 billion. The tender offer is expected to start at $750 million, and the shares are being offered at a price exceeding $80 per share. This valuation represents an increase from the reported $137 billion valuation in January when SpaceX raised $750 million from investors. As of now, SpaceX holds approximately $5 billion in cash on its balance sheet.
Headquartered in Hawthorne, California, SpaceX is a prominent player in the commercial space launch industry. The company carries out launches for private sector clients, and government agencies such as NASA, and plays a crucial role in transporting astronauts to and from the International Space Station. Additionally, SpaceX made headlines by successfully conducting the first-ever private space tourism mission, allowing civilians to orbit the Earth for multiple days.
In its latest achievement, SpaceX recently deployed over 50 additional satellites, expanding its satellite constellation for providing broadband internet coverage to various regions on Earth. The ongoing development of Starlink, SpaceX’s satellite internet venture, has garnered significant attention from investors. Speculation persists about Musk potentially spinning off Starlink as a separate entity, particularly when the cash flow becomes more predictable. The success and growth of SpaceX have attracted close scrutiny, as the company continues to push the boundaries of space exploration and commercialization.
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