Elon Musk’s SpaceX secures $1.7 billion in additional funding

Space Exploration Technologies Corp., better known as SpaceX, secured an additional $1.7 billion in equity, according to a filing released Monday.

The private company SpaceX, led by Tesla Inc. TSLA,
Chief executive Elon Musk sold about $1.68 billion in new shares in a $1.72 billion offering, according to the Securities and Exchange Commission filing. The first sales took place late last month, he said.

The round brings the company’s valuation to around $125 billion, up from around $100 billion at the end of last year.

Earlier on Monday, US aviation authorities said they found no “significant” environmental impact from the company’s plans to launch its Starship spacecraft and Super Heavy rocket at its existing launch site in south Texas, but the company will need to make several adjustments to the plan. .

Starship is SpaceX’s reusable transportation system designed to ferry crew and cargo to Earth orbit as well as “the moon, Mars, and beyond,” the company says.

Leave a Comment