By
Svetlana Soroka
April 18th, 2024
SpaceX has not issued additional shares in the secondary offering. However, the company has suggested the possibility of doing so later in the year.
Elon Musk’s spacecraft engineering company SpaceX is about to become the most valued US startup with a valuation of more than $125 billion. Citing familiar people with the matter, Reuters stated that SpaceX had reached a valuation of more than $125 billion in its ongoing share sale in the secondary market. Formerly, the company’s shares sold at $56 each in October last year, following a 10-1 split. SpaceX surged to a $100 billion valuation after then. Now, the shares are in the market for about $72 each.
SpaceX Boasts $125 Billion in Valuation
A successful share sale could place SpaceX as the largest startup in the US, with a valuation of over $125 billion. This means that SpaceX would surpass fintech behemoth Stripe, which came out at a $115 billion valuation in a secondary sale.
According to a source who pleaded anonymity, SpaceX has not issued additional shares in the secondary offering. However, the company has suggested the possibility of doing so later in the year. As it stands, there are no details on the exact amount of shares SpaceX is offering.
SpaceX is indeed making waves in the commercial rocket industry, competing with the likes of Jeff Bezos’ space venture Blue Origin. Virgin Galactic (NYSE: SPCE) is another venture in the space that SpaceX competes with. Last April, the Elon Musk spacecraft company raised 1.16 billion in equity financing after generating $337.4 million in December.
SpaceX Launches 53 Starlink Internet Satellites
On the 18th of May, SpaceX launched its latest fleet of 53 Starlink internet satellites into orbit. Production manager Jessie Anderson stated that a Falcon-9 rocket transported the payload into space. After lifting the Starlink internet satellites into orbit, the rocket returned after 9 minutes. It landed in the Atlantic Ocean on ‘A Shortfall of Gravitas’ droneship that belongs to SpaceX. Nasa’s Pad 39A launched it about 39 minutes later than scheduled at 06:59 ET. Notably, the Falcon-9 rocket has been earlier used by the company as the latest launch was the third mission in a week. SpaceX can manage the costs of each launch by re-using the first stage of its rockets.
The company’s CEO mentioned that all reusables of the Falcon-9 should be useful for a minimum of 100 times.
SpaceX is continually expanding its reach. With the influence of its CEO, who is also the world’s right man, SpaceX indeed has a high chance of reaching its peak with its valuation among other US startups. The company recently signed a deal with airline company JSX to provide a satellite company to the airline. JSX CEO Alex Wilcox said the WiFi connectivity would serve up to 100 planes.