According to CNBC, SpaceX is raising a significant amount of new money, valuing the private business at over $127 billion. According to a company-wide email received by CNBC on Friday, the space enterprise is aiming to raise up to $1.725 billion in additional financing at a price of $70 per share. In February, divided its stock price 10-for-1, lowering the common shares to $56 per share — a 25% rise in value.
SpaceX is also selling up to $750 million in common shares to business insiders and current shareholders in a secondary sale. Given that has remained private for more than 20 years, the business performs these secondary sales on a regular basis as a mechanism for long-term owners to sell equity.
The company’s investment round comes as Elon Musk, the company’s creator and CEO, is accused of sexual harassment by a former SpaceX flight attendant. The billionaire has dismissed the allegations as “false charges.” According to reports, the flight attendant did not sue SpaceX and instead settled for a $250,000 severance package in 2018.