SpaceX valuation tops $100 billion following secondary share offering
Recently, Elon Musk's commercial space travel company agreed to sell as much as $755 million in stock via company insiders at $560 a share.
When it comes to the possibilities of commercialized space travel, Elon Musk’s SpaceX company is arguably further out in the lead than any other group or private company around. It has only bolstered its value and reputation over the past year with a number of successful launches and even a few landings. However, the company just reached a milestone valuation on new trading activity. Thanks to a secondary share offering, SpaceX has crossed the $100 billion USD mark in company valuation.
This major milestone was recently noted following an agreement by SpaceX to offer a secondary share offering to new and existing investors, as reported by CNBC. According to the agreement, company insiders will sell up to $755 million worth of stock shares traded at $560 a share according to those familiar with the deal. The move pushed the company to a valuation of $100.3 billion, up 33 percent from its February 2021 valuation of around $74 billion at $419.99 a share. It also makes it one of the few private companies to have ever achieved a $100 billion valuation.
There’s still quite a lot to be excited about in SpaceX. The company has continued to pioneer commercialized spaceflight and made strides in aerospace technology that put it far ahead of the game. Earlier this year, SpaceX test rocket SN10 was able to take off, breaking and then reentering the Earth’s atmosphere before landing back on the ground. It would explode soon after, but it still represented a major push forward in both launch and landing aerospace tech. Meanwhile, SpaceX has also continued to bolster its operations with the acquisition of companies like satellite company Swarm to aid its Starlink internet service.
Despite pressure and competition from the likes of Jeff Bezos’ similar Blue Origin company, SpaceX shows no sign of slowing down anytime soon. And with a $100 billion valuation, it’s more than likely the company has everything it needs to keep moving forward in its pursuit of commercialized space travel for the foreseeable future.
TJ Denzer posted a new article, SpaceX valuation tops $100 billion following secondary share offering