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SpaceX reportedly valued at around $210 billion in planned secondary market share sale

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Elon Musk’s SpaceX is preparing an insider stock sale in a tender offer that values ​​the commercial rocket company at more than $200 billion, Bloomberg reported Wednesday evening, amid a string of successes over the past year, including several crewed launches and securing the contract to bring down the soon-to-be-decommissioned International Space Station.

Highlights

Citing sources familiar with the matter, Bloomberg reported that the planned tender offer valued each of SpaceX’s shares at a “higher than expected” price of $112, slightly higher than the price of $108 to $110. announced by the media last month.

The transaction would value the company at approximately $210 billion.

The amount of the share sale has reportedly not yet been finalized and will likely be determined based on the interest of existing shareholders and outside buyers.

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News

The purported $210 billion valuation makes SpaceX the second most valuable startup in the world, as it narrows its gap with TikTok’s Beijing-based parent company ByteDance. In December, ByteDance carried out a share buyback at a valuation of $268 billion.

Key context

SpaceX’s last tender offer, in December, targeted shares priced at $97, valuing the company at $180 billion. In January last year, SpaceX raised $750 million in a funding round led by venture capital firm Andreessen Horowitz, which valued the company at $137 billion.

Contra

Although Musk has not commented on the latest tender offer report, he posted on X last month: “SpaceX does not need additional capital and will in fact repurchase shares.” He then claimed that the company conducts “liquidity rounds” for employees and investors approximately every 6 months.

Forbes Rating

According to our estimates, Musk’s net worth is $220.6 billion, making him the richest person in the world.

Tangent

On Wednesday, NASA announced that it had awarded SpaceX $843 million to build a “deorbit vehicle” to help bring down the International Space Station in 2030 after it is decommissioned. The vehicle will be designed to safely push the space station out of orbit and return it to Earth’s atmosphere where it is expected to “destructively break apart” upon re-entry.

Further reading

SpaceX’s tender offer would value the company at a record $210 billion (Bloomberg)

News Source : www.forbes.com
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