SpaceX is looking to raise a bunch of new cash – $314.2 million at a per share price of $214, according to a new CNBC report. The raise would be the third total this year, which together added up to over $1 billion in new capital.
Both those filings were revealed in May, so it’s a lot of money to be generating not even halfway through 2019. But SpaceX is also spending a lot, and expanding beyond its existing rocket launch business with new projects that have high costs, including building an all-new reusable spacecraft called the “Starship” and launching a constellation of satellites called “Starlink” to serve high-speed internet to traditionally underserved customers globally.
Meanwhile, SpaceX is still making money on launches, and CEO Elon Musk estimated last year that it’s probably on track for around $3 billion in revenue for this year. That’s a good chunk of change, but Musk has a lot of pots in the fire, including presumably a plan to still make its way to Mars and set up permanent operations on the red planet, as detailed in a couple consecutive talks at the annual International Astronautical Congress.
We’ve reached out to SpaceX for comment and will update if they respond.
Written by Darrell Etherington
This news first appeared on https://techcrunch.com/2019/06/27/spacex-reportedly-seeking-over-300m-in-fresh-funding/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Techcrunch+%28TechCrunch%29 under the title “SpaceX reportedly seeking over $300M in fresh funding”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.
