SpaceX Reportedly Seeks Up To $1.7 Billion In New Investments
Share this @internewscast.com


Topline

SpaceX is seeking up to $1.725 billion in new funding, CNBC reported Sunday, as the aerospace firm looks for capital for projects like its Starship rocket and Starlink satellite internet service.

Key Facts

If the deal to acquire $1.725 billion closes, it could drive SpaceX’s valuation up to $127 billion, a 25% increase since February, CNBC reported, citing an internal company email.

The aerospace company is conducting a separate sale of as much as $750 million in stock to prior investors and company insiders, a standard occurrence, according to CNBC.

The New York Post was first to report Wednesday that SpaceX was seeking additional funding, but it said that there was “very tepid demand,” citing unnamed sources.

On Tuesday, Reuters reported sales of SpaceX shares in the secondary market could drive the company’s valuation to $125 billion, positioning it as the most valuable U.S. startup, citing unnamed sources.

SpaceX did not immediately respond to a request for comment.

Tangent

On Thursday, Insider reported that SpaceX had paid a $250,000 settlement to a former company flight attendant to resolve allegations of sexual misconduct against CEO Elon Musk. Musk denied the allegations and called Insider’s source a “liar” in a series of tweets.

Key Background

Founded in 2002 by Musk, SpaceX both manufactures and launches rockets, and has helped lead the commercialization of space. In 2020, Morgan Stanley analysts projected that the company’s valuation could rise dramatically due to its repeated success in winning contracts from the Department of Defense and NASA, and the company has raised billions of dollars in capital in recent years to fund its Starship rocket—intended to facilitate colonization of other planets—and its Starlink satellite network. In September 2021, the company sent billionaire Jared Isaacman and three other people into orbit in what was the first space mission with no professional astronauts aboard. In April, SpaceX launched the first all-private astronaut crew to visit the International Space Station, a 17-day operation that marked NASA’s first collaboration with a private company for a space tourism mission.

Further Reading

“Elon Musk’s SpaceX Reportedly Lands $100 Billion Valuation In Private Investor Transactions” (Forbes)



Share this @internewscast.com
You May Also Like

After 8 years dumping billions of XRP, Jed McCaleb’s stack runs out in weeks

Former Ripple Labs founder Jed McCaleb is nearing the end of his…

Zelensky Asks for Western Help to Push Russia Out of Ukraine Before Winter

TELFS-BUCHEN, Austria—Ukrainian President Volodymyr Zelensky appealed to Group of Seven leaders for…

Baymax! Is A Charming, Limited, But Still Enjoyable Set of Vignettes

2014’s Big Hero 6 was a number of things. It was the…

Robinhood Shares Jump 14%, Trading Halted After Report That Crypto Exchange FTX Could Buy The Company

Topline Shares of popular stock trading app Robinhood surged higher on Monday…

Russia Defaults On Its Foreign Debt As Grace Period For Payment Expires, Reports Say

Topline Russia has defaulted on its foreign debt for the first time…

Four Inflation-Related Concerns Merchants Should Consider

Julie Fergerson, CEO of the Merchant Risk Council, has over 25 years…

Carnival Shares Plunge Nearly 15% As Morgan Stanley Warns Of Potential Stock Wipeout

Topline Cruise stocks tanked on Wednesday after yet another major Wall Street…

Stratis (STRAX) gains 200%+ after Sky Dream Mall metaverse and stablecoin announcement

Bear markets can be incredibly harsh for projects that have little adoption…