SpaceX’s new $850 million raise confirmed in SEC filing – ClearTips

SpaceX’s new $850 million raise confirmed in SEC filing – TechCrunch

SpaceX has not released any public statements about the $ 850 million in fresh funding CNBC raised it last week, but confirms a filing round with the US Securities and Exchange Commission (SEC) published today. The funding of SpaceX was said to cost the company $ 74 billion, with a per share value of just under $ 420.

According to Bloomberg, investment firm Sequoia led a substantial growth and has now invested $ 600 million in the space company led by Elon Musk. The CNBC report also stated that a secondary sale of existing shares generated additional capital of $ 750 million for the company, putting the total new money available for the use of SpaceX into $ 1.6 billion – $ 2 billion. Not far from it, which increased to a valuation of $ 46. Arabia in August last year.

It probably takes a lot of money to raise in less than a year. But some companies – private or otherwise – need SpaceX’s capital. While it is now able to build a thriving launch business on the funds raised during the first part of its nearly two-decade existence, it has not slowed down the rate at which it embarked on large new projects with tremendous upfront costs. Has been doing.

Currently, SpaceX is rapidly building a new prototype of its starship, the next-generation reusable rocket that many times with the cargo capacity of its existing Dragon spacecraft, and the Falcon 9 cargo Nosecon. It has flown several prototypes – and missed two in the process. The company typically has at least two new prototypes under construction simultaneously and has been operating at the same speed for several months, a high manual production process for both rockets and new engines that power them.

Meanwhile, it is also building StarLink – the global broadband Internet satellite planetarium, which it intends to build on a scale of over 12,000 from its current 1,000+ size to access final, world-wide coverage. To fill it up quickly and to roll out its service (which it now has to select regions in North America), SpaceX is launching its own dedicated Falcon 9 rocket with 60 Starlink satellites on each. Since the company is its customer for the majority of those missions, they are fully operating expenses. Musk estimated that it would take about $ 10 billion to fully deploy Starlink.

Both of these projects – Starship and Starlink – bear large upfront costs, but they also have many potential long-term reversals; Therefore, the skyrocketing valuation between the positivity of both efforts and the initial service availability of Starlink to produce positive results.

Be the first to comment

Leave a Reply

Your email address will not be published.


*