(Bloomberg): Elon Musk’s space company SpaceX is selling insider stock in a tender offer for $112 a share, a higher-than-expected price that could value the company at nearly $210 billion, people familiar with the matter said.
The company was valued at $180 billion in a transaction last December, Bloomberg News reported.
SpaceX is the world’s second-highest valuation startup. Investor demand in the tender offer, a deal that allows employees and insiders to sell their shares, has been so strong that it has priced the company at a valuation above the $200 billion discussed last month, the people said, asking not to be identified discussing the matter.
The new valuation would be the highest for a privately held U.S. company, but still below the $268 billion valuation of ByteDance, the parent company of video-sharing app TikTok.
The terms of the tender offer have not yet been finalized and the size of the sale may vary depending on insider interest from both sellers and buyers.
A SpaceX representative did not immediately respond to a request for comment.
Original Title: SpaceX Tender Offer Said to Value Company at Record $210 Billion (excerpt)
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