Ever since the US election, Elon Musk headed Space Exploration Technology Corp. or commonly known as SpaceX has been gaining a lot in terms of business along with his other ventures and now, it has been reported that the company is planning to sell insider shares which will bring its valuation at USD 350 billion. If this turns out to be true, SpaceX will not just cement its status as the world’s most valuable private startup, but will also rival against the market share of leading public companies too.
Here’s more about it.
SpaceX – Tender Offer at USD 350 Billion Valuation?
The California-headquartered company, SpaceX, has already established itself as a predominant rocket launch provider of the industry with a valuation of USD 210 billion as of early this year in a tender offering. The company is currently planning on offering more insider shares to investors as per people familiar with the matter, which will thereby raise its valuation to USD 350 billion from the previously mulled valuation of USD 255 billion. The conversation regarding the matter is ongoing as per reports, and details like final price could change based on the interest of sellers and investors.
SpaceX, as it is already known, holds tender offerings regularly to provide its employees an opportunity to liquidate their shares to investors, and it typically takes place twice a year. About the new tender offering plan, SpaceX hasn’t yet commented on it, but if the deal closes, the company will take the throne as the most valuable private startup company in the world.
Just to add, late last month, SpaceX also received a USD 256.6 million contract from NASA for its Dragonfly Mission to Titan, Saturn’s largest moon. Do check it out.
