ELON MUSK: SPACEX TENDER OFFER COULD VALUE STARTUP AT RECORD $210BN
Elon Musk’s SpaceX will sell insider shares at $112 a piece in a tender offer, boosting the value of the startup to nearly $210bn (£166bn), Bloomberg News has reported.
The space and satellite company was last valued at $180bn in a December transaction and is the world’s second most valuable startup.
Sources told Bloomberg SpaceX decided to price its current offer at above a the $200bn proposed last month due to significant investor demand.
The new valuation would mark a record for a private company in America. However, it would still come in below Tiktok’s parent company Bytedance, which is valued at $268bn and based in Beijing.
According to Bloomberg, the terms of the offer have not yet been finalised and its size could change depending on the level of interest from prospective sellers and buyers.
SpaceX on Thursday was awarded a fresh multimillion dollar contract by NASA, to safely deorbit the International Space Station (ISS) when its operations cease in after 2030.
The new deal could be worth $843m and would enable Musk’s outfit to build a vehicle which could destroy the orbiting station.
SpaceX was approached for comment.