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Editor in Chief Mohamed Wadie

SpaceX Eyes $200 Bln Valuation in New Share Sale


Fri 24 May 2024 | 02:00 PM
Israa Farhan

SpaceX, the aerospace company owned by Elon Musk, is reportedly in discussions to sell existing shares at a price that could value the private company at about $200 billion.

This information was shared by sources familiar with the matter, as reported by Bloomberg.

The company is contemplating a tender offer, a transaction allowing employees and insiders like investors to sell shares.

According to sources, this tender offer could launch in June. Although the specific tender offer price has not been set, SpaceX is considering offering shares at a price range of $108 to $110 per share.

A tender offer is a public proposal to purchase some or all of the shareholders' stock in a company, inviting them to sell their shares at a specified price within a certain timeframe.

This price is typically higher than the market price and often contingent on a minimum or maximum number of shares being sold.

The final terms of the tender offer have not been finalized, and the size of the offer could change based on the level of interest from both sellers and buyers.

Elon Musk, in a tweet on the platform X (formerly Twitter), stated, "We do liquidity rounds for employees and investors every 6 months.”

He added that SpaceX does not require additional capital and will repurchase shares.

A market valuation of $200 billion would surpass the $180 billion valuation SpaceX achieved in its last funding round, positioning the company on par with some of the largest publicly traded companies globally in terms of market value.

Representatives from SpaceX, officially known as Space Exploration Technologies Corp., did not immediately respond to Bloomberg's requests for comment.