SpaceX’s Starship rocket manufacturing facility in Boca Chica, Texas when CEO Elon Musk (third from right) and President Gwynne Shotwell (third from left) toured.
Steve Jurvetson on Flickr
Elon Musk’s SpaceX valuation surpassed $ 100 billion after it announced a stock sale by existing investors earlier this week, CNBC has learned.
SpaceX has entered into an agreement with new and existing investors to sell up to $ 755 million worth of shares from insiders at $ 560 per share, according to several people familiar with the deal – reflecting the company’s valuation increased to $ 100.3 billion. The company was not raising any new capital at the time, sources said, with the purchase offer representing a second sale of existing shares.
The new share price represents a 33% increase from SpaceX’s last valuation from $ 74 billion to $ 419.99 per share in February, when the company raised nearly $ 1.2 billion. The company had a similar secondary deal in February with a deal for insiders that was supposed to sell up to $ 750 million at the time.
SpaceX’s new valuation makes it one of the rare private “centicorn” – or “hectocorn” companies in the world – a unicorn of $ 1 billion, 100 times more. Musk’s SpaceX is now the second most valuable private company in the world, according to CB Insights, just behind China’s Bytedance and the leap at the fintech firm Stripe.
SpaceX CEO Elon Musk poses with the crew before the launch on September 15, 2021.
John Kraus / Inspiration4
People spoke to CNBC on condition of anonymity since SpaceX is not a publicly traded company and the funding is private.
SpaceX did not respond to CNBC’s request for comment.
The company’s valuation has skyrocketed in recent years as SpaceX raised billions to fund work on two capital-intensive projects: Starship and Starlink.
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