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Musk to raise extra cash for SpaceX?

November 23, 2023

By Chris Forrester

SpaceX plans to sell new shares in December to investors, according to reports. Elon Musk raised around $750 million (€686.9m) in July this year for SpaceX.

SpaceX is a closely held business and is expected to issue a tender offer which values the company at about $1.5 billion. The cash raised in July gave the rocket company a value of about $137 billion according to Bloomberg.

The plan to raise investment cash via a tender offer seems to scotch reports that Musk was contemplating an IPO next year.

News has also emerged from Musk that his giant Starship could be ready for its third test flight in 3-4 weeks, and certainly this side of Christmas. The launch will need licensing by the FAA but few observers see this as being a problem.

A Starship (referred to as Number 30) is already out in the open at the Boca Chica ‘Starbase’ in South Texas.

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