Elon Musk’s SpaceX to raise $500 million in funding: WSJ

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Elon Musk’s SpaceX to raise $500 million in funding: WSJ

Elon Musk’s rocket company SpaceX Corp is set to raise $500 million at a $30.5 billion valuation, the Wall Street Journal reported on December 12, citing people familiar with the fundraising.

The company is raising the capital from existing shareholders and new investor Baillie Gifford & Co, the third-largest shareholder in Musk-led electric carmaker Tesla Inc.

SpaceX did not immediately responded to Reuters request for comment.

SpaceX investors are paying $186 per share for new stock in the latest funding round, WSJ reported, adding that it is up about 10 percent from the $169-per-share paid during an April fundraising.

In April, Reuters reported that SpaceX was raising $507 million in a new round of funding, valuing the company at around $26 billion.

The Hawthorne, California-based company has outlined plans for a trip to Mars in 2022, to be followed by a manned mission to the red planet by 2024.

Separately, SpaceX’s launch of a long-delayed navigation satellite for the US military was halted on December 18, postponing for at least a day the space transportation company’s first designated national security mission for the United States.

Images are for reference only.Images gathered automatic from google.All rights on the images are with their original owners.

2018-12-19 18:36:07

Images are for reference only.Images gathered automatic from google.All rights on the images are with their original owners.

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