Elon Musk's SpaceX To Raise Additional $250 Million at $36 Billion Valuation: CNBC

Equities Staff  |

Image: Crew Dragon launch escape demonstration. Source: SpaceX

SpaceX, Elon Musk's advanced rocket and spacecraft company, is looking to raise an additional $250 million, according to CNBC on Friday. The latest raise, following $1.33 billion in equity capital raised in 2019, would bring the company's valuation to about $36 billion.

The previous raise of $314.15 million last year was done at a price of $214 per share, and the current proposed financing is contemplated at $220 per share.

SpaceX is continuing development on key projects, including Crew Dragon, Starship and Starlink.

Crew Dragon was developed as part of NASA's Commercial Crew program and was the first American spacecraft to autonomously dock with the International Space Station in 2019.

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Starship is planned to be a long-duration cargo and passenger spacecraft launched as the second stage of a reusable launch vehicle.

Starlink is SpaceX's satellite internet service project in development to provide low-cost internet service to remote locations. SpaceX eventually hopes to have as many as 12,000 satellites in this so-called megaconstellation.

SpaceX has secured over 100 missions to its manifest, representing over $12 billion on contract. These include commercial satellite launches as well as US government missions.

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Source: Equities News

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