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Elon Musk's SpaceX Now One Of The Most Valuable Venture-Backed US Businesses At $46B, After Latest Funding

Elon Musk-led Space Exploration Technologies Corp raised a little over $1.9 billion from investors in an offering, according to a filing it made with the United States Securities and Exchange Commission Tuesday.

Benzinga · 08/19/2020 03:36

Elon Musk-led Space Exploration Technologies Corp raised a little over $1.9 billion from investors in an offering, according to a filing it made with the United States Securities and Exchange Commission Tuesday.

What Happened

The regulatory filing discloses that the company managed to sell most of its planned $2.07 billion offering on August 4 — a total of $165 million remains to be sold.

The space technology company’s offering was oversubscribed and came in the wake of the conclusion of its pioneer human space flight earlier in August, Bloomberg reported.

Fidelity Investments was a lead investor in the funding round, according to an unidentified Bloomberg source.

The fundraising was the largest so far for the company, according to PitchBook.

Why It Matters

At the conclusion of the funding round, SpaceX was estimated to be valued at $46 billion, which includes the recently raised capital, making it one of the most valuable venture-backed business in the United States, Bloomberg noted.

The firm’s existing investors include PayPal Holdings Inc (NASDAQ:PYPL) co-founder Peter Thiel-led Founders Fund, Alphabet Inc (NASDAQ:GOOGL) (NASDAQ:GOOG), Baillie Gifford, and Valor Equity Partners.