Published , by Donovan Erskine
Published , by Donovan Erskine
SpaceX continues to be on the forefront of space discovery and exploration. With that, it’s always interesting to keep a close eye on the financial side of the business. Most recently, it was discovered that SpaceX is holding a new round of funding, where it will hope to reel in $1.7 billion in funding, thus bringing the company’s value to a total of $127 billion.
SpaceX’s latest round of funding was discovered and reported on by CNBC. According to the publication, the space exploration company is aiming to bring in $1.75 billion in funding at the price of $70 per share. To put things into perspective, SpaceX stock was valued at $56 dollars per share following the company’s 10-1 stock split back in February of this year. The new asking price would mark a 25 percent increase in value.
This round of funding would put SpaceX at a valuation of $127 billion. CNBC also reports that the private company is selling up to $750 million in stock to its existing shareholders as well as company insiders.
As a private company, SpaceX hasn’t seen much financial turbulence in the wake of CEO Elon Musk’s pursuit to acquire Twitter. The same can’t be said about Tesla, which has seen some trouble with its stock in recent months in light of the news.
It will be interesting to see how SpaceX’s latest projects are coming along following the latest round of funding. Of course, this news comes just days after we learned of sexual harassment allegations made against SpaceX CEO Elon Musk by a SpaceX flight attendant. We will continue to monitor the situation and deliver any necessary updates.