On November 19, 2024, SpaceX’s next-generation Starship spacecraft, powered by the powerful Super Heavy rocket, conducted its sixth test at the company’s Boca Chica launch pad in Brownsville, Texas.
Joe Skipper | Reuters
valuation Musk’s CNBC confirmed on Wednesday that SpaceX’s market value reached $350 billion through a secondary stock sale.
SpaceX and investors agreed to buy shares from insiders in a $1.25 billion tender offer at $185 per share, according to a copy of the offer obtained by CNBC. The round does not include raising new capital as the tender offer represents a secondary sale of existing shares.
Notably, SpaceX will purchase up to $500 million of common stock as part of the offer, a rare share buyback that shows the strength of the private company’s financial position.
The company regularly raises second rounds of funding (about twice a year), giving employees and other shareholders the opportunity to sell stock. The latest valuation soared 67% from SpaceX A record high of US$210 billionthe company went through a secondary stock sale in June.
SpaceX’s soaring valuation comes as the company further cements its dominance of the aerospace industry and Musk has been Become an influential person during the upcoming presidential term.
The aerospace company has a near monopoly on the U.S. satellite launch market, with its dominant position being Main Falcon Rocketsjust as its competitors have been trying to Field Rockets enter competition.
SpaceX’s Starlink satellite network business is a key economic driver for the company. With about 7,000 satellites launched to date, the service is worthy of boasting Approximately 5 million subscribers.
At the same time, its terrible starship Flight testing continues to progress and represents an attempt to build a next-generation reusable rocket of unprecedented scale and power.
SpaceX’s latest valuation puts the company above the market capitalization of the top U.S. defense contractors. Among the S&P 500 U.S. companies, SpaceX would rank among the top 25 by market capitalization, between Johnson & Johnson and Bank of Americaaccording to FactSet.
The company did not immediately respond to CNBC’s request for comment on the sale process. Burundi First reported SpaceX pricing of $185 per share.
“Few investors are willing to sell at the new valuation of $350 billion,” Musk wrote in response to a social media post about the SpaceX stock sale.
“SpaceX is reducing the amount of stock it is buying back from employees to allow some new investors to come on board,” Musk said. Wrote.
