According to an email obtained by CNBC, SpaceX is set to split its private common stock for the first time.
With Elon Musk’s company valued at over $100 billion, the common stock at $560 per share will split 10-for-1, bringing it down to $56 after the change.
“The split has no impact on the overall valuation of the company or on the overall value of your SpaceX holdings,” read the company-wide email to employees, says CNBC.
The stock split does not change the valuation of SpaceX, but is only cosmetic and is seen as way to make share more accessible. Unnamed sources tell CNBC this is the first SpaceX stock split.
SpaceX recently gave an update on its Starship, expected to test its first orbital launch this spring, pending FAA approval, while the company’s Starlink satellite internet constellations continue to expand at a rapid pace, and recently surpassed 250,000 users. Both projects are capital intensive and SpaceX has raised billions to fund the endeavours.
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