Hold onto your helmets Space-fans, because SpaceX (SPACE) is firing up the engines with plans to sell insider shares that could skyrocket the space company’s value to a jaw-dropping $175 billion or more – that’s more than the GDP of some countries!
The word on the launch pad is that SpaceX is hashing out a tender offer ranging between $500 million and $750 million, according to a recent Bloomberg report. Those in the know suggest that the shares might go for around $95 a pop. Strap in, because things are about to get really out-of-this-world!
If this valuation pans out, it will blow the $150 billion SpaceX was valued at just this summer right out of the water. To put it plainly, it’s like watching a Falcon Heavy liftoff, but for finance nerds!
It was just last month that insider share sales were predicted to hover around the $150 billion mark, nearly matching the summer valuation. Space truly is the final frontier – and apparently, it’s also where the money is at!
Back in January, SpaceX was valued at $137 billion when it snagged a cool $750 million from investors. But here’s the kicker – most of that mind-blowing value comes from Starlink, SpaceX’s program that’s delivering faster-than-light internet from a constellation of satellites orbiting our planet. With estimated sales this year soaring somewhere between $2.5 billion to $3 billion, they might as well be printing their own money in outer space!