SpaceX is preparing to launch a new funding round, and if successful would boost the value of Elon Musk’s aerospace company to about $127 billion.
According to a company-wide email sent on Friday and obtained by CNBC, SpaceX is seeking up to $1.725 billion in fresh funding through selling shares in the company at $70 each.
That is up from the previous $56 per share it was valued at earlier this year when SpaceX stock split 10-for-1, a 25% increase in just a few months.
To give some perspective to how big this latest round of funding is, if the company is successful and able to secure $1.725 billion, it would eclipse the amount it was able to bring in all of 2021 – $1.501 billion.
According to CNBC, SpaceX is also conducting a secondary sale of up to $750 million in common stock to company insider and existing shareholders. These sales are done on a fairly regular basis as the company is still private and this is the only way to allow shareholders to sell their equity.