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SpaceX Is in Funding Talks That Would Value It at Over $150 Billion

From Bloomberg:

SpaceX headquarters in Hawthorne, California.
SpaceX headquarters in Hawthorne, California.Photographer: Alisha Jucevic/Bloomberg

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 Roof