SpaceX employees are planning to sell some of their existing shares through a private placement that would value Elon Musk’s aerospace company at $125 billion.
According to sources familiar with the plans, Bloomberg is reporting that the shares will be offered at $70 each. That is above the $56 value used in the last share sale in October 2021 which raised $337 million and valued SpaceX at about $100 billion.
It is unclear at this time how many shares are being offered in the employee tender, and whether some of the shares will be coming from Musk himself.
The SpaceX CEO has been attempting to secure additional funding for his buyout of Twitter with the help of additional investors, and has so far been able to accumulate more than $7 billion and reduce his personal commitment to the deal.
Whether the deal still happens is up in the air after Musk questioned the number of fake or spam accounts on the social media platform and wasn’t satisfied with the explanation provided by CEO Parag Agrawal, who stands behind their initial estimate that less than 5% of daily active users are fake.