Home / Business / SpaceX has authorized new shares that could value it at $24B

SpaceX has authorized new shares that could value it at $24B

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 $23.7 billion, according to the new filing provided by Lagniappe Labs, creator of the Prime Unicorn Index. We’ve previously reported that SpaceX was planning to raise around $500 million in a financing round led by Fidelity, helping provide a lot 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. Air Force to launch three GPS satellites.

SpaceX isn’t the only company that may end up providing a new generation of orbital launches, like Jeff Bezos’ Blue Origin. Virgin Galactic also successfully tested its rocket-powered spacecraft for the first time since 2014 earlier this week, and while the details on that launch are still very slim it shows that there’s a wide variety of companies that see potential in figuring out a lower-cost way to get equipment into orbit.

We also previously reported that there could be a secondary offering that could also total up to $500 million in shares. That would run through special purpose vehicles, according to what we’re hearing, which would give investors an opportunity to get some 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.

Check Also

Divido, the consumer finance platform, scores $15M Series A

Divido, the consumer finance platform that lets you take out credit at the point of purchase to help spread the cost of buying new things, has raised $15 million in Series A funding. Leading the round is Dawn Capital, and DN Capital, with participation from Mastercard, American Express Ventures and a number of previous investors. Renier Lemmens, who previously served as Chief Executive Officer of PayPal EMEA and was an executive at Barclays, has also been appointed as chairman. Launched in late 2015, London-based Divido currently works with over 1,000 partners to enable them to offer B2C and B2B finance to their customers at checkout. This includes being able to spread the cost of any product or service over a period of time by providing instant access to credit at the point of purchase, either online and in-store. However, where the company differentiates from the likes of Klarna is that Divido doesn’t provide the line of credit itself or work with a single lender, instead operating a marketplace model. This sees lenders compete to offer the most suitable credit. The broader pitch is that Divido’s consumer finance at the point of sale leads to up to 20 percent more sales for retailers, more lending for banks and more transactions for payment partners. The company’s clients include Mercedes-Benz, BNP Paribas Shopify. Explains Christer Holloman, CEO of Divido, in a statement: “Proactive retailers know they have to try new initiatives to grow sales. Offering customers the option to pay later doesn’t just increase footfall and eyeballs, but it also raises average order values and conversion rates. And what’s good for the retailers is also good for the lenders who are providing this credit, and the intermediaries that facilitate the transactions”. Meanwhile, Divido says the injection of capital will be used for global expansion. The platform is currently available in the U.K., Germany, France, Spain, Italy, the Nordics, and the U.S., and the company wants to be in 10 more countries by the end of 2019. Divido is also pivoting to licence its platform to banks and lenders via a service called “Powered by Divido”. This will let partners white label its technology to provide finance services to their customers.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Disclaimer: Trading in bitcoins or other digital currencies carries a high level of risk and can result in the total loss of the invested capital. theonlinetech.org does not provide investment advice, but only reflects its own opinion. Please ensure that if you trade or invest in bitcoins or other digital currencies (for example, investing in cloud mining services) you fully understand the risks involved! Please also note that some external links are affiliate links.