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SpaceX Plans New Tender Offer, Aiming for Valuation Above $175B

Summary:
SpaceX has become one of the most valuable companies in the United States, dominating the market for commercial space launch services, primarily due to the success of its Falcon rockets.  Elon Musk‘s aerospace company SpaceX is in discussions to sell insider shares via a new tender, potentially valuing the privately held firm at around 5 billion, as reported by Bloomberg on Thursday, citing people familiar with the matter. According to the report, the company plans to sell approximately 0 million to 0 million of its shares to undisclosed parties, bringing its valuation to a new high. The sources who preferred to remain anonymous said the firm is eyeing to sell the stocks at a fixed price of per share. SpaceX to Conduct Another Insider Share Sales The planned tender

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SpaceX has become one of the most valuable companies in the United States, dominating the market for commercial space launch services, primarily due to the success of its Falcon rockets. 

Elon Musk‘s aerospace company SpaceX is in discussions to sell insider shares via a new tender, potentially valuing the privately held firm at around $175 billion, as reported by Bloomberg on Thursday, citing people familiar with the matter.

According to the report, the company plans to sell approximately $500 million to $750 million of its shares to undisclosed parties, bringing its valuation to a new high. The sources who preferred to remain anonymous said the firm is eyeing to sell the stocks at a fixed price of $95 per share.

SpaceX to Conduct Another Insider Share Sales

The planned tender offer comes after the company conducted a secondary share sale in July. The company, headquartered in Hawthorne, California, announced at the time that it had reached an agreement with its shareholders to sell up to $750 million in stock from insiders at $81 a share. The secondary sale brought its valuation to $150 billion.

Before then, SpaceX had conducted its first insider share sale this year priced at $77 each. At the time, the firm was valued at $140 billion.

The aerospace company is now considering its third secondary sale of the year, targeting a much higher valuation of $175 billion.

Bloomberg said the firm failed to disclose the exact terms of the potential tender offer. Despite the non-disclosure, the company could change the size of the offer depending on interest from both insider sellers and buyers.

Market Dominance and Operations

SpaceX has become one of the most valuable companies in the United States, dominating the market for commercial space launch services, primarily due to the success of its Falcon rockets.

The company plays a pivotal role in launching payloads into orbit for a diverse clientele, including private-sector entities, government agencies like NASA, and other customers.

In a recent presentation, Lakiesha Hawkins, Deputy Associate Administrator for NASA’s Moon to Mars program office, suggested that SpaceX’s next Starship mission could mark a significant milestone, including a refueling test. If implemented, the move indicates that part of the mission’s objectives may involve testing and showcasing the capability to refuel spacecraft while in space.

Aside from the commercial space services, the company’s operations extend further with its Starlink service, providing the internet from space through a burgeoning constellation of satellites in low-Earth orbit.

According to reports, the company recently gained authorization to expand its Starlink services to South Africa. SpaceX has been operating in the region without proper registration with the appropriate authorities.

However, Dominic Cull, a regulatory advisor to the Internet Service Providers’ Association (Ispa) in South Africa, said the company got its core equipment registered.

“So now we have a link to say that Starlink is interested in South Africa, to the extent that they have bothered to get their core equipment type approved. They wouldn’t do that if they didn’t intend to enter the South African market,” said Cull.

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