SpaceX Confirms $850 Million Raise in Equity Financing

Last week, it was reported by CNBC that SpaceX had raised $850 million in new funding, selling shares at $419.99 USD, putting the valuation of Elon Musk’s company at about $74 billion USD.

On Tuesday, SpaceX confirmed the $850 million funding, as disclosed in a Securities and Exchange Commission (SEC) Form D (via Reuters).

The filing notes a total offering amount of $849,995,922 USD sold, with $3,779 USD remaining. The funding will allow SpaceX to continue building prototypes of Starship and also more Falcon 9 boosters, as the rocket business is very capital intensive.

SpaceX now targeting no earlier than Thursday, February 25th, for a flight test of Starship prototype SN10 as per new/removed TFRs

— SpaceX Updates – Boca Chica (@op_boca) February 23, 2021

SpaceX plans to launch a test flight of its Starship SN10 prototype, possibly by Thursday of this week, while its next Falcon 9 launch of Starlink satellites is pegged for the end of February.