SpaceX, the innovative space exploration and satellite company founded by Elon Musk, has announced a new tender offer pricing insider shares at $112 each, significantly boosting its valuation to nearly $210 billion.
The tender offer allows employees and other insiders, including early investors, to sell their shares, creating an opportunity for liquidity within the privately held company.
The decision to price the shares at a higher-than-expected valuation was driven by robust investor demand, according to sources familiar with the matter.
This new valuation sets a record for an American private company, second only to ByteDance Ltd., the Chinese parent company of social media giant TikTok, which holds a valuation of $268 billion.
SpaceX’s latest valuation places it among the ranks of the world’s largest publicly traded companies by market capitalization, underscoring its rapid growth and significant impact on the space industry.
The tender offer’s terms are still being finalized, and the size of the offer may vary based on the level of interest from both sellers and buyers.
Representatives for SpaceX have not yet commented on the specifics of the tender offer or the final valuation.
SpaceX, formally known as Space Exploration Technologies Corp., continues to make headlines with its ambitious projects and technological advancements.
The company has successfully launched numerous missions, including crewed missions to the International Space Station, and has been at the forefront of developing reusable rocket technology.
Also, SpaceX’s Starlink project aims to provide global satellite internet coverage, further expanding its influence and market reach.
The increased valuation reflects investor confidence in SpaceX’s future prospects and its potential to revolutionize both space travel and satellite communications.
As the company continues to push the boundaries of space exploration and technology, its rising valuation underscores its status as a leading force in the industry.
