The valuation of Elon Musk’s SpaceX company has reached $180 billion based on the ongoing secondary sale of shares.
The firm is discussing an agreement with investors to sell shares from insiders in a takeover bid at $97 a share, according to a person familiar with the discussions.
The offer does not involve raising new capital as the tender offer is a secondary sale of existing shares and is expected to close in January.
SpaceX typically conducts these secondary rounds about twice a year to give employees and other company shareholders the opportunity to sell shares.
The latest valuation represents a 20 percent increase from SpaceX’s previous record of $150 billion, which the company reached through a secondary sale in July at a price of $81 per share.
SpaceX has a near-monopoly in the US satellite launch market, thanks to its Falcon rockets and the failure of competitors to deliver operational rockets to compete.
SpaceX’s Starlink satellite Internet business is considered a key economic driver for the firm, with more than 5,000 satellite launches to date and a service that boasts more than two million subscribers.
In addition, the company’s new “monstrous” vehicle, Starship, continues to advance in flight tests, representing an attempt to create a next-generation reusable rocket of unprecedented scale and power.
This is now one of the most valuable private companies in the world.
SpaceX’s latest valuation puts the company above the market value of any of the top US defense manufacturers – including Boeing (about $150 billion), Lockheed Martin (about $112 billion) and Northrop Grumman (about $73 billion).
It’s also worth more than the most valuable U.S. telecommunications firms — like Verizon (about $154 billion) or AT&T (about $115.9 billion), according to FactSet data released Wednesday, Biznis Info reports.
(Image credit: Daniëlle Futselaar (artsource.nl))
