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SpaceX Raises $1.9 Bln In New Funding

spacex aug19 lt

Space Exploration Technologies Corp., known as SpaceX, has raised $1.90 billion in new funding. The private rocket company, founded by Elon Musk, revealed the funding in a regulatory filing with the U.S. Securities and Exchange Commission.

As per the filing, the company was planning to sell $2.07 billion offering, and now plans to sell further $165 million in equity and preferred stock.

The latest funding reportedly is SpaceX's largest single fundraising round to date.

Bloomberg reported, citing people familiar with the matter, that the company will have an equity value of $46 billion with the new round of funding.

The news comes as the company launched sixth flight for its Falcon 9 rocket booster and delivered 58 of its Starlink satellites, along with three SkySat satellites for Planet Labs Inc. to orbit.

As of now, the company has launched more than 600 satellites for Starlink for its high-speed satellite-based Internet service. The project, which began development in 2015, is aiming to provide service in the Northern U.S. and Canada this year, expanding to near-global coverage by 2021.

Earlier, on August 2, SpaceX Crew Dragon capsule carrying two U.S. astronauts from the International Space Station safely landed in the Gulf of Mexico after completing a historic mission. It was the first commercially built and operated American crew spacecraft.

SpaceX's first regular taxi flight for NASA is scheduled for mid-October.

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