In a recent development, sources familiar with the matter as per a report by Bloomberg revealed that SpaceX, the space and satellite company led by Elon Musk, plans to sell insider shares at US$112 each in a tender offer.
This higher-than-anticipated pricing is expected to elevate the company’s value to around US$210 billion, a noteworthy increase from its previous valuation of US$180 billion from a transaction in December.
The decision to price the current tender offer above the previously discussed US$200 billion valuation was driven by considerable investor demand. This transaction allows employees and insiders, including investors, to sell shares.
While this new valuation sets a record for an American private company, it remains below the US$268 billion valuation of ByteDance, the parent company of popular social video platform TikTok. SpaceX’s ascending value now positions it alongside some of the largest publicly traded companies in the world by market capitalization.
Although terms are still being finalized, the size of the tender offer could be adjusted based on interest from potential insider sellers and buyers. Requests for comments from SpaceX, also known as Space Exploration Technologies, have not received an immediate response from their representatives.
