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SpaceX (SPACE) has started talks about selling insider shares at a price that will value billionaire Elon Musk’s space firm at $175 billion or more.
The space company is discussing a tender offer that could range from $500 million to $750 million, according to a Bloomberg report on Wednesday, which cited people familiar with the matter. SpaceX (SPACE) is evaluating offering shares at about $95 apiece.
A $175 billion valuation would be higher than the $150 billion the company was valued at through a tender offer in the summer. The New York Post reported late last month that the upcoming inside share sales were set to value SpaceX (SPACE) at about $150 billion, around the same valuation it had this summer.
SpaceX (SPACE) was valued at $137 billion when it raised $750 million from investors in January.
Most of SpaceX’s value comes from Starlink, which provides high-speed internet access beamed from a growing constellation of satellites. Its sales this year may be in the range of $2.5B to $3B, based on an estimate of its subscriber growth.