SpaceX has raised a large round of new money, valuing the private business at over $127 billion. The space enterprise aims to raise up to $1.725 billion in new financing at a price of $70 per share. In February, SpaceX split its stock price 10-for-1, lowering the common shares to $56 per share – a 25% rise in value.
SpaceX is also selling up to $750 million in common stock to business insiders and existing shareholders in a secondary sale. Given that SpaceX has remained private for more than 20 years, the business performs these secondary sales on a regular basis as a mechanism for long-term owners to sell equity.
