Elon Musk’s SpaceX is in talks to raise a funding round that values the rocket-launch and satellite company at more than $150 billion, people familiar with the matter said.
The transaction being discussed represents a jump from the $125 billion valuation the company commanded earlier this year, the people said, asking not to be identified discussing confidential information.
Shares are being offered at roughly $85 apiece, up from a split-adjusted $70 during the last funding effort, according to the people. Investors may buy new shares in SpaceX at the same time employees sell via a private placement, or tender offer, at the same valuation, they said.
It’s not uncommon for secondary share sales at big private companies to be done concurrently with a regular funding round. Terms aren’t finalized and could still change, the people said. A representative for SpaceX didn’t immediately respond to a request for comment.
Earlier SpaceX investors include Sequoia Capital, T. Rowe Price and Ontario Teachers’ Pension Plan Board.
— With assistance by Katie RoofSIGN UP