Investing

SpaceX raising $250 million, Elon Musk’s company valuation $36 billion

0


SpaceX is looking to raise about a quarter billion dollars in new funds, as Elon Musk’s company heads into a critical year for its three major projects.

The company is seeking to bring in about $250 million at a price of $220 a share, according to people familiar with the financing. The new raise would value SpaceX at around $36 billion, up from $33.3 billion previously. The round is not expected to close until the second week of March, those people told CNBC, and includes an equivalent purchase offer to existing SpaceX shareholders.

SpaceX did not immediately respond to CNBC’s request for comment. The details of the raise could change depending on market conditions between now and the second week of March.

Last year SpaceX raised $1.33 billion across three funding rounds. It’s one of the most valuable private companies in the world and, with consistently oversubscribed capital raises, SpaceX shares rank as some of the most in demand of any pre-IPO companies as well.

The steady fundraising comes as SpaceX continues development on three important programs: Crew Dragon, Starlink and Starship.

NASA astronauts Doug Hurley and Bob Behnken suited up inside a SpaceX Crew Dragon capsule.

NASA

Crew Dragon is the company’s spacecraft its built to fly NASA astronauts to the International Space Station, as well as private space tourists on multi-day space missions. The agency has awarded SpaceX more than $3.1 billion to develop the Crew Dragon capsule since the company won its first…



Source

Microsoft, Chevron share losses contribute to Dow’s 250-point drop

Previous article

Stock market’s selloff showing no signs of panic selling

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Investing