The valuation of Elon Musk’s SpaceX hit $180 billion based on an ongoing secondary share sale, CNBC confirmed Wednesday.
The company is discussing an agreement with investors to sell stock from insiders in a purchase offer at $97 a share, according to a person familiar with the discussions. The offer does not include raising new capital, as the purchase offer represents a secondary sale of existing shares and is expected to close in January.
SpaceX typically performs these secondary rounds about twice a year, to give employees and other company shareholders a chance to sell stock. The latest valuation represents a 20% increase from SpaceX’s previous high of $150 billion, which the company hit through a July secondary sale at $81 a share.
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