Space Exploration Technologies (SpaceX) is nearing a funding round that could raise USD 2.00 billion in proceeds, people familiar with the matter told Bloomberg.
According to the sources, Elon Musk’s business had to increase the size of the financing as demand was so high.
Fidelity Investments is said to be among the biggest investors taking part in the round.
Bloomberg previously reported that the funding could be worth around USD 1.00 billion, pricing each share for sale at USD 270.00 apiece and valuing the business at USD 44.00 billion.
With the increased cash call, the group is expecting to receive a capitalisation of USD 46.00 billion, which the news provider observed would make it one of the most valuable venture-backed companies in the country.
SpaceX’s Dragon capsule returned safely to earth earlier this month, in the first mission in which US astronauts flew to the International Space Station on an American spacecraft since the shuttle program ended in 2011.
The business was founded in 2002, with Musk hoping to eventually populate other planets.
SpaceX has been in a close partnership with NASA and is scheduled to launch its first operational mission on 23rd October 2020.
The company is also in the process of making it easier to get rural and underserved communities online.
It is currently building Starlink, a satellite constellation designed to bring higher speeds and lower latencies than competing services by orbiting lower than other similar satellites, at around 550 kilometres above sea level.
SpaceX has applied for permission to launch up to 42,000 satellites.
Zephyr, the M&A database published by Bureau van Dijk, shows there have been 178 deals targeting aerospace product and parts manufacturers announced worldwide in 2020 to date.
In the largest of these, Russia-based aircraft manufacturer Nauchno-Proizvodstvennaya Korporatsiya Irkut is to conduct a private placement to raise RUB 1,444 billion (USD 19.80 billion).
Other targets included Russian aircraft and spacecraft engines manufacturer Kuznetsov, France-headquartered parts and equipment maker Safran and Japan’s Showa Aircraft Industry.
© Zephus Ltd