Elon Musk's SpaceX raises $250 million in new stock offering as its valuation soars

Elon Musk's SpaceX raised additional funding through a capital offering in late July, according to a new company filing Friday.

SpaceX made $250 million in proceeds from stock sales, with the date of the first sale being July 20. Funding came from five investors. Thanks to this, the company raised approximately $2 billion in 2022, CNBC reported.

In May, the company raised $1.725 billion, giving it a valuation of $127 billion. Given that the company led by Musk operates in a capital-intensive industry, the financing needs are enormous.

SpaceX is currently developing and testing a fully reusable superheavy launch vehicle called Starship at its facilities in Boca Chica, South Texas. The Starship is intended to transport crew and cargo to Earth orbit, the Moon and Mars. Recently, Musk updated the timing of Starship's orbital launch, suggesting it could take between one and 12 months.

The company also owns Starlink satellite broadband internet service.

Early Saturday, the CEO of Tesla, Inc. TSLA tweeted that he was on the launch pad and advised that the rocket was moved to the launch pad.

SpaceX's Falcon 9 rocket carried the South Korean lunar spacecraft "Danuri" into space Friday night from Cape Canaveral Space Force Station in Florida.

Photo courtesy of Steve Jurvetson on Flickr

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