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SpaceX has reportedly entered discussions for an insider-only stock sale that could value the company at about $200 billion — although Elon Musk says otherwise.
Bloomberg News, citing unnamed sources familiar with the matter, reports that a tender offer may begin in June. SpaceX is debating offering stock at $108 to $110 per share in a tender offer, or a transaction that allows employees and some insiders — like investors — to buy and sell shares. Terms of the tender offer could change depending on interest from insiders and buyers, Bloomberg reports.
“SpaceX has no need for additional capital and will actually be buying back shares,” Musk said Thursday on X, formerly known as Twitter, in response to a post discussing Bloomberg’s report. “We do liquidity rounds for employees and investors every ~6 months.”
Before Bloomberg’s latest report, SpaceX was most recently valued at $180 billion as of December 2023. SpaceX is the second-most valuable startup in the world, behind TikTok owner ByteDance and ahead of OpenAI.
Since December, SpaceX has won at least one contract with U.S. government agencies worth more than $1 billion. The company will begin building a network of spy satellites for the National Reconnaissance Office, which manages spy satellites, Reuters reports.
The company has also launched its third flight attempt with its 400-foot-tall Starship mega-rocket. SpaceX in recent weeks has been preparing to conduct its fourth test of the Starship rocket, posting photos on X showing its progress.
SpaceX on Friday said the next flight test could launch as soon as June 5, pending approval from the U.S. Federal Aviation Administration. The launch window for the flight will open as early as 8 a.m. ET, and a livestream will open about 30 minutes before launch.
The Starship rocket has received “several software and hardware upgrades” to address issues from the last test and SpaceX will also make some operational changes to improve performance. Like the last test, the fourth flight aims to splash down in the Indian Ocean.
“The fourth flight of Starship will aim to bring us closer to the rapidly reusable future on the horizon,” the company said in a statement.
Earlier this week, Musk visited Bali to officially launch satellite internet services in Indonesia, proving access to some 17,000 people through SpaceX’s Starlink subsidiary. Musk also announced that Starlink has more than 3 million customers using its services across 99 countries. The company had reached the 2 million customer milestone in September.