SpaceX Attempting To Raise Funding At $150 Billion Valuation
Well, that’s one way to try and help alleviate a cash crunch at your empire…
SpaceX is reportedly attempting to raise a funding round that values the space exploration company at a whopping $150 billion, multiple reports, including one from Bloomberg, on Tuesday confirmed.
The report cited “people familiar with the matter” and people “asking not to be identified discussing confidential information”. The valuation is a boost from the $125 billion the company sported earlier this year.
Terms have not yet been finalized and could change, Bloomberg noted.
Shares are being talked about at $85 each, which is up from $70 price that the company last funded itself at. It looks as though employees will be able to sell into the funding round, as, well, Bloomberg noted:
“Investors may buy new shares in SpaceX at the same time employees sell via a private placement, or tender offer, at the same valuation…”
Elon Musk responded to the report on Tuesday, calling it “false” on Twitter, without offering up additional details as to why the report was incorrect. SpaceX didn’t respond to Bloomberg’s request for comment before they published.
The news will come as welcome to the Ontario Teachers’ Pension Plan Board, who are early investors in SpaceX. The pension fund was most recently in the news for getting caught up in the FTX implosion to the tune of $95 million. Perhaps they can offload some SpaceX shares to try and offset the carnage in crypto…
Wed, 11/16/2022 – 21:20