Billionaire Elon Musk's Spacecraft engineering company SpaceX is poised to become the most valuable U.S. startup as its valuation rose to over $125 billion in an ongoing share sale in the secondary market, reported Reuters.
The shares, marketed at about $72, spiked in valuation from last October, when SpaceX's shares were sold at $56 apiece after a 10-1 split. This had valued the rocket company at $100 billion.?In the ongoing secondary offering, no new shares have been issued, but the company indicated to investors that they may do so later this year, as per sources' information to Reuters.
The ongoing share sale could value Elon Musk¡¯s company SpaceX at over $125 billion, surpassing fintech giant Stripe, which was valued at $115 billion in a secondary sale.
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It is usually a common strategy for highly valued private companies to offer shares in the secondary market to introduce liquidity for early investors and employees.
It's not yet clear if Elon Musk, who has been busy with the Twitter deal and owns 44% of the SpaceX, is among the sellers of SpaceX shares.?
In the capital-intensive business, SpaceX had raised $337.4 million in December and $1.16 billion in equity financing last April, according to regulatory filings.
SpaceX competes with Jeff Bezos's space venture Blue Origin and billionaire Richard Branson's Virgin Galactic in the burgeoning constellation of commercial rocket ventures.
Elon Musk's SpaceX has already launched numerous cargo payloads and astronauts to the International Space Station for the National Aeronautics and Space Administration (NASA), including 19 rocket launches this year alone, as per Reuters.
Last month, three multimillionaire businessmen had taken off on a space rocket ride with the International Space Station (ISS), with the mission named 'Axiom Mission 1'.?
Each of the three businessmen- America¡¯s Larry Connor, Canada¡¯s Mark Pathy and Israel¡¯s Eytan Stibbe had paid $55m (?42m) last year for the rocket ride and accommodation.?
This launch was the sixth human spaceflight conducted by Elon Musk¡¯s SpaceX, and the first private launch that it has reportedly docked with the ISS.
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