SpaceX is raising huge funding in a new round, which has raised the valuation of US billionaire Elon Musk's space rocket company, to about $127 billion.
SpaceX is looking to bring in up to $1.725 billion in new capital, at $70 per share, according to CNBC in an email. A leaked email at the company level, which was reviewed by Al-Arabiya.net.
SpaceX split the stock to 10 per share last February, cutting the common stock to $56 per share — and with the new valuation representing an increase By 25%.
SpaceX is also making a secondary sale to company insiders and existing shareholders for $750 million in common stock.
The company's valuation has skyrocketed in the past few years, as SpaceX has raised billions to fund work on two capital-intensive projects: a next-generation Starship rocket and the global satellite Internet network Starlink.
