Elon Musk’s SpaceX is offering to sell insider shares at a price that would raise the closely held company’s valuation to about $150 billion, according to people familiar with the matter.
The most valuable US start-up is thought to be initially pursuing a $750 million tender offer.
SpaceX is offering shares at more than $80 apiece.
A $150 billion valuation would compare with $137 billion reported in January when SpaceX raised $750 million from investors. SpaceX has around $5 billion of cash on its balance sheet.
Representatives for SpaceX didn’t immediately respond to requests for comment. The size of the tender offer could change depending on interest from both insider sellers and buyers.
The Hawthorne, California-based company dominates the market for commercial space launch. The company sends payloads to orbit for private sector customers, as well as for the National Aeronautics and Space Administration and other government agencies.
It also ferries astronauts to and from the International Space Station for Nasa, and has run the first private space tourism mission for civilians to orbit the earth for several days.
On Friday, SpaceX successfully deployed more than 50 additional satellites, adding to a constellation it uses to beam broadband internet coverage to the Earth below.
Investors are watching closely to see whether Musk will spin off Starlink, having suggested he would do so when cash flow became more predictable.
The biog
Hobbies: Writing and running
Favourite sport: beach volleyball
Favourite holiday destinations: Turkey and Puerto Rico
Chef Nobu's advice for eating sushi
“One mistake people always make is adding extra wasabi. There is no need for this, because it should already be there between the rice and the fish.
“When eating nigiri, you must dip the fish – not the rice – in soy sauce, otherwise the rice will collapse. Also, don’t use too much soy sauce or it will make you thirsty. For sushi rolls, dip a little of the rice-covered roll lightly in soy sauce and eat in one bite.
“Chopsticks are acceptable, but really, I recommend using your fingers for sushi. Do use chopsticks for sashimi, though.
“The ginger should be eaten separately as a palette cleanser and used to clear the mouth when switching between different pieces of fish.”
The specs
Engine: 2x201bhp AC Permanent-magnetic electric
Transmission: n/a
Power: 402bhp
Torque: 659Nm
Price estimate: Dh200,000
On sale: Q3 2022
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'Nightmare Alley'
Director:Guillermo del Toro
Stars:Bradley Cooper, Cate Blanchett, Rooney Mara
Rating: 3/5
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