INSUBCONTINENT EXCLUSIVE:
SpaceX has authorized a new Series I round for 3 million shares in a new round that will be worth up to $507 million, according to a
certificate of incorporation document filed in Delaware.If all shares in this round are issued, the new round would value SpaceX at around
of liquidity for the company as it begins to ramp up its plans to grow its ambitious launch schedule
While the filing does not confirm that it has raised the full $500 million, it serves as another data point to support that the company has
picked up an additional huge influx of cash
The 3 million shares are priced at $169, in the range that we previously reported mid March.The FCC in March gave SpaceX the green light to
launch a network of thousands of satellites to blanket the globe with broadband access
Each additional flight offers SpaceX an opportunity to not only prove out its efficiency as a launching company, but also that it can
provide a wide array of companies with a potentially cheaper option to get equipment into orbit for purposes like providing broadband
SpaceX already runs plenty of missions to the International Space Station
SpaceX also won a $290 million contract with the U.S
Virgin Galactic also successfully tested its rocket-powered spacecraft for the first time since 2014 earlier this week, and while the
way to get equipment into orbit.We also previously reported that there could be a secondary offering that could also total up to $500
liquidity in the company as it looks to remain private a little longer with the new financing.We reached out to SpaceX for a comment and
will update the story when we get back.
