Elon Musk’s SpaceX is readying an insider share sale in a tender offer that values the commercial rocket company at above $200 billion, Bloomberg reported late Wednesday, amid a string of successes in the past year, including multiple crewed launches and receiving the contract to bring down the soon to be decommissioned International Space Station.
A SpaceX Falcon Heavy rocket lifts off from Launch Complex 39A at NASA's Kennedy Space Center, ... [+]
Citing sources familiar with the matter, Bloomberg reported the planned tender offer values each of SpaceX’s shares at a “higher-than-expected” $112—slightly higher than the $108 to $110 price reported by the outlet last month.
The transaction would value the company at around $210 billion.
The size of the share sale has reportedly not been finalized yet and will likely be determined based on interest from both existing shareholders and outside buyers.
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The purported valuation of $210 billion makes SpaceX the world’s second most valuable startup, as it closes its gap with TikTok’s Beijing-based parent company ByteDance. In December, ByteDance conducted a buyback of shares at a valuation of $268 billion.
SpaceX’s most recent tender offer in December had shares priced at $97, valuing the company at $180 billion. In January last year, SpaceX raised $750 million in a funding round led by the venture capital firm Andreessen Horowitz, which valued the company at $137 billion.
SpaceX Tender Offer Said to Value Company at Record $210 Billion (Bloomberg)