Musk seeks extra $1.7bn in funding round
May 24, 2022
By Chris Forrester
Elon Musk’s SpaceX is launching a new funding round and aiming for around $1.72 billion (€1.5bn) in fresh cash at $70 per share. It would take SpaceX’s valuation to about $127 billion. SpaceX is still a private company and despite numerous rumours of a potential IPO has – to date – steered clear of a formal stock market listing.
SpaceX is reportedly seeking a secondary offering to existing shareholders of some $750 million.
CNBC, reporting on the proposals, quotes a company email which outlines the plans.
Back in February SpaceX split its nominal stock value in a 10-for-one share move which then valued each share at $56, says CNBC, and thus suggesting that the new cash-raising represents a 25 per cent uplift in SpaceX’s share price value.