The Strategist

SpaceX to sell some of its shares in December



11/24/2023 - 08:24



The terms will resemble those from July, when SpaceX agreed to sell shares for up to $750 million, according to the New York Post.



Daniel Oberhaus
Daniel Oberhaus
According to sources cited by The New York Post, SpaceX, controlled by billionaire Elon Musk, intends to sell a portion of its shares in December at a price that represents the company's current valuation of approximately $150 billion.

The offer's value is anticipated to be close to the sum that was decided upon in July. Then, according to CNBC, which cited a copy of the purchase offer, SpaceX reached an agreement with investors to sell up to $750 million worth of shares at a price of $81 each paper. The business valued itself at $137 billion after raising the same amount in funding in January.

Plans to sell shares in December seem to confirm that Musk is not considering plans for Starlink’s IPO, according to the New York Post. SpaceX has no plans to raise its valuation in a tender offer in December, sources said. Investors are still unsure of Starlink's direction, despite the fact that it accounts for the majority of SpaceX's value. A week earlier, on November 15, Bloomberg, citing sources, wrote that SpaceX was considering an initial public offering of shares in its Starlink satellite business. Musk responded to this message on social media network X with one word: "Lies."

According to sources, SpaceX does not intend to increase its valuation through a tender offer in December. Despite the fact that Starlink makes up the majority of SpaceX's worth, investors remain uncertain about its future, they stated.

source: nypost.com, cnbc.com




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