Elon Musk's SpaceX will sell insider shares at $112 each in a tender offer, increasing the company's valuation to nearly $210 billion, according to the financial news wire Bloomberg, citing people familiar with the matter.
This price surpasses the previous $200 billion valuation discussed last month due to high investor demand.
As reported by Bloomberg News, the company was last valued at $180 billion in a transaction in December. This new valuation sets a record for an American private company, though it remains below the $268 billion valuation of TikTok owner ByteDance - another very large closely followed private tech company.
The tender offer allows employees and insiders to sell shares. It highlights the continued strong interest in SpaceX, which rivals some of the world's largest publicly traded companies by market capitalisation. The terms are not finalized, and the offer's size may change based on interest from sellers and buyers.
SpaceX representatives did not immediately respond to requests for comment. The move is part of SpaceX's ongoing efforts to manage its financial strategy while balancing high investor expectations and operational demands.