Musk’s SpaceX value jumps closer to $180 billion in tender offer.

Musk's SpaceX value jumps closer to $180 billion in tender offer
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Musk's SpaceX value jumps closer to $180 billion in tender offer

Elon Musk’s SpaceX soared to a valuation close to $150 billion Musk’s SpaceX value jumps closer to $180 billion in tender offerafter existing investors initiated a share sale this week, as reported by CNBC.

 

SpaceX underwent a deal with both new and existing investors, agreeing to sell up to $750 million in stock from insiders at $81 per share. This arrangement, outlined in a purchase offer by CFO Bret Johnsen, represents a secondary sale of existing shares. Despite this transaction, the company hasn’t declared plans for raising new capital. Musk previously stated in April that additional funding wasn’t anticipated to further fortify initiatives like Starship and Starlink. SpaceX typically conducts these secondary rounds biannually, allowing employees and shareholders an opportunity to sell company stock.

This new share price reflects a 5% increase from its previous secondary sale at $77 each, valuing the company at around $140 billion. SpaceX refrained from providing comments on the purchase offer when approached by CNBC.

Remaining a top-tier private entity globally, SpaceX holds the distinction of being a “centicorn” or “hectocorn” – a $1 billion unicorn, 100 times over.

Having launched nearly 5,000 Starlink internet satellites, SpaceX’s service has attracted over 1.5 million subscribers in less than three years. The company foresees profitability for Starlink in 2023 after achieving a cash flow positive quarter last year. A Pentagon contract secured last month to provide Starlink service in Ukraine adds to its achievements. Nevertheless, SpaceX’s spending on the development of the Starship rocket remains s

ignificant, with an estimated expenditure of about $2 billion this year. Although the first Starship flight achieved several milestones, it also encountered multiple challenges. SpaceX plans for a second launch pending Federal Aviation Administration approval, amid ongoing regulatory issues and environmental concerns.

The company dominates the U.S. satellite launch market, largely due to its Falcon rockets. Its competitors have faced difficulties launching operational rockets for effective competition. SpaceX recently celebrated its 200th successful landing of an orbital rocket booster and has executed 47 launches this year, averaging one launch every four days.

While speculation spins about an IPO for Starlink, SpaceX has remained silent on the matter. President Gwynne Shotwell indicated earlier this year that there are no updates, aligning with Musk’s previous statement that Starlink might not go public until 2025 or later, as reported by CNBC last year.


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