According to sources familiar with the matter at hand, Elon Musk’s SpaceX is poised to become the most valuable U.S. startup with its valuation rising to over $125 billion in an ongoing share sale in the secondary market.
The shares, which are marketed at about $72, jumped in valuation from last October, when SpaceX’s shares were sold at $56 apiece after a 10-1 split and valued the rocket company at $100 billion.
While SpaceX has not issued any new shares in the secondary market, it has indicated that they may do so later this year, said a source on the condition of anonymity.
The share sale could value SpaceX at over $125 billion, surpassing fintech giant Stripe, which was valued at $115 billion in a secondary sale.
As of now, there is no information as to the number of shares that will be available for sale, however it is common for highly valued private companies to offer shares in the secondary market to introduce liquidity for early investors and employees.
SpaceX did not immediately respond to requests for comments.
According to regulatory filings, in April 2021, SpaceX had raised $1.16 billion in equity financing, while in December 2021 it had again raised $337.4 million.
The commercial rocket launching is a capital intensive one. In it, SpaceX’s peers includes Blue Origin and Virgin Galactic.
SpaceX has already launched numerous cargo payloads and astronauts to the International Space Station for the National Aeronautics and Space Administration (NASA), including 19 rocket launches this year alone.