Elon Musk’s SpaceX is offering to sell insider shares at a price that would raise the closely held company’s valuation to about $140 billion, according to people familiar with the matter.
Space Exploration Technologies Corp., as the company is formally called, is offering the shares for $77 apiece, said the people, who asked not to be identified because the information wasn’t public.
The $140 billion figure compares with a $127 billion valuation in July, according to data provider PitchBook.
In recent weeks, SpaceX had held conversations for a range of prices but ultimately settled on $140 billion for the valuation in a tender offer, the people said. It couldn’t be immediately learned whether the company will seek to raise capital in a primary funding round at that valuation.
A representative for SpaceX, the most valuable private company in the US, didn’t immediately respond to a request for comment. SpaceX, based in Hawthorne, California, dominates the market for commercial space launch.
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