The valuation of Elon Musk’s SpaceX crossed $100 billion following a share sale by existing investors announced this week, according to a report by CNBC.
SpaceX has an agreement with new and existing investors to sell up to $755 million in stock from insiders at $560 a share, according to those familiar with the deal — increasing the company’s valuation to $100.3 billion. The company did not raise new capital at this time, sources said. Instead, the purchase offer represented a secondary sale of existing shares.
The new share price is an increase of 33% from the company’s last valuation of $74 billion at $419.99 a share in February. The company had a similar secondary transaction in February, with a deal for insiders to sell up to $750 million at the time.
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