👀 Ones to watch: The MOST undervalued stocks to buy right nowSee Undervalued Stocks

Elon Musk's SpaceX Raises $1.68 Billion via Equity Financing

Published 14/06/2022, 10:42
© Reuters.
TSLA
-

By Senad Karaahmetovic

SpaceX, founded by Tesla (NASDAQ:TSLA) CEO Elon Musk, has raised $1.68 billion via equity financing, the startup company said in a regulatory filing.

A couple of weeks ago, CNBC reported that SpaceX was looking to raise $1.725 billion in fresh funding at a price of $70 per share. This would imply a valuation of roughly $127 billion.

Raised funding is likely to be used to cover massive investments in the Starship rocket development and Starlink broadband internet satellite constellation.

Yesterday, the company received a green light from the Federal Aviation Administration (FAA) that its Texas development site had no significant environmental impact.

“The FAA determined that the Proposed Action would not result in significant environmental consequences and has issued a Mitigated Finding of No Significant Impact/Record of Decision (FONSI/ROD),” the regulator said in a press release.

SpaceX said that the ruling brings it “one step closer to the first orbital flight test of Starship.”

The company’s Starlink satellite unit has already launched around 2,600 satellites to space since 2019.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.