Elon Musk MADE A FINAL UPGRADE With The Starship 25!
Following a share sale by current investors announced this week, CNBC has discovered that Elon Musk’s SpaceX is now valued at close to $150 billion. But, there’s more, on Sunday, Elon Musk, the CEO of SpaceX, shared an updated photo of Starship 25’s aft section. What’s the surprise? Let’s find out in today’s episode!
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According to a copy of the acquisition offer received by CFO Bret Johnsen on Thursday, SpaceX has an agreement with new and existing investors to sell up to $750 million in stock from insiders at $81 a share.
The acquisition offer represents a secondary sale of current shares, which the firm did not indicate it was doing at this time. In April, Musk stated that the business did “not anticipate needing to raise funding” in order to further support the plans for Starship, Starlink, and other efforts. These secondary rounds are normally conducted by SpaceX twice a year to provide staff members and other stockholders a chance to sell shares.
With a valuation of over $140 billion, the new share price marks a rise of about 5% from its previous secondary sale price of $77 per share.
SpaceX, which is regarded as a “centicorn” or “hectocorn” — a $1 billion unicorn, 100 times over — continues to be one of the most valuable private firms in the world.
Thanks to its reliable Falcon rockets and the struggles of competitors to manufacture functional rockets to compete, the business has achieved a near monopoly on the U.S. satellite launch market. SpaceX launched 47 times this year, giving the business a blazing rate of one launch every four days. Last month, the company successfully landed an orbital rocket booster for the 200th time.
In less than three years since its founding, Musk’s business has launched over 5,000 of its Starlink internet satellites. The service already has more than 1.5 million members. Likewise SpaceX predicted that “Starlink will make money” in 2023 after achieving a cash flow positive quarter in the previous quarter. Last month, it was awarded a Pentagon contract for an unknown sum to offer Starlink service in Ukraine.
The development of its Starship rocket, the company’s next-generation rocket, is still being extensively funded by SpaceX. The business will invest around $2 billion on the development of the vehicle this year, according to Musk. The first Starship flight was successful in taking off from the launch pad and accomplishing several firsts, but it also encountered numerous issues. While waiting for permission from the Federal Aviation Administration, SpaceX is geared up to attempt a second launch in the upcoming months. Regarding how it controls SpaceX’s Starship, the FAA is also engaged in a legal battle with the environmental community.
However, SpaceX has said nothing regarding its Starlink business’s potential IPO. According to President Gwynne Shotwell, there has been “no update” since President Gwynne Shotwell stated earlier this year that there is “no update.” Last year, according to a report Elon Musk warned staff that the business is unlikely to list Starlink until 2025 or later.
At Starbase, work is still being done in preparation for the world’s most powerful launch vehicle’s second flight.
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