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SpaceX aims to raise $1.7 billion: media – Technology

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Published on May 23, 2022 2:44 p.m.

Musk is also the CEO of automaker Tesla.

WASHINGTON (AFP) – Aerospace company SpaceX is seeking to raise $1.7 billion in new funding, a massive move as its controversial founder Elon Musk continues to make the news, a television network reported on Sunday.

Citing a company-wide email the network said it obtained, CNBC reported that the space travel pioneer would pay $70 per share, or 25% more than the $56 per share. traded in February after a stock split.

That would value the 20-year-old company — the first private company to send astronauts into orbit, among many other firsts — at $127 billion.

That valuation has steadily risen in recent years, with SpaceX raising billions to fund work on its next-generation Starship rocket and Starlink global satellite internet network.

Meanwhile, independent online website Insider reported this week that SpaceX paid $250,000 to resolve an alleged sexual misconduct complaint by Musk against a SpaceX business jet attendant.

Musk, 50, dismissed the accusation, saying on Twitter on Thursday that “for the record, these outlandish accusations are totally false.”

Musk, who is also the CEO of automaker Tesla, said he was making a $44 billion bid to buy Twitter.

But this week he said he first needed clarity on the prevalence of fake or spam accounts on the popular social media platform before making the purchase.

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