SpaceX, owned by Elon Musk, is aiming to sell insider shares, boosting the company’s valuation to approximately $150 billion, as per sources close to the matter.
The firm, currently the most valuable start-up in the US, appears to be launching a $750 million tender offer initially.
Shares are being offered at over $80 each.
The projected $150 billion valuation marks an increase from the $137 billion estimated in January when SpaceX successfully raised $750 million from its investors. The company reportedly holds around $5 billion cash in its coffers.
SpaceX did not promptly reply to requests for a comment. The tender offer’s size may vary based on the interest from potential insider sellers and buyers.
The company, based in Hawthorne, California, leads the commercial space launch market, offering orbit payload delivery for private companies, NASA, and other governmental agencies.
SpaceX also transports astronauts to the International Space Station for NASA and has launched the first private space tourism mission allowing civilians to orbit the earth for several days.
Recently, SpaceX successfully launched over 50 additional satellites, expanding its constellation used for providing broadband internet coverage to the earth.
Investors are keenly observing if Musk will separate Starlink, as he hinted at doing so once the cash flow becomes more stable.