Elon Musk’s SpaceX has announced a 10-for-1 split of its private stock in a company-wide email obtained by CNBC.
At the most recent valuation, SpaceX private stock was worth $560 per share. With the split, that has now been reduced to $56 per share, and each share holder now owns 10 times as many shares as they did before.
“The split has no impact on the overall valuation of the company or on the overall value of your SpaceX holdings,” the email said.
This is the first time SpaceX has split its high-performing private stock, but the company says it does not impact any of the company’s fundamentals, nor on its valuation.
That valuation has skyrocketed in recent months. At the most recent share sale in October, which raised $755 million, SpaceX was valued at $100.3 billion.
That was an increase of more than 33% compared to its previous valuation in February of $74 billion.
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