SpaceX reportedly seeking over $300M in fresh funding
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.