Gillian Tan and Katie Roof
Mon, May 16, 2022
(Bloomberg) -- SpaceX employees are offering to sell shares via a private placement that would value Elon Musk’s launch and satellite company at around $125 billion, according to people familiar with the matter.
The shares are being offered in a so-called employee tender at $70 each, the people said, asking not to be identified because the details are private. That compares with a split-adjusted $56-a-share during a sale in October at a valuation of about $100 billion.
It’s unclear whether Musk is selling stock as part of the employee tender, the people said. The size of the offering couldn’t immediately be determined.
Read more: Musk Seeks to Scrap Tesla Margin Loan With New Twitter Funding
SpaceX didn’t respond to a request for comment outside regular business hours. The New York Post reported the share placement plan earlier.
Musk has been seeking a variety of funding sources to complete his agreement to purchase Twitter Inc. On Monday he suggested the deal for the social media platform might be completed at a lower price, days after he questioned Twitter’s ability to estimate how many accounts are spam or fake.
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