Hyperdrive
SpaceX Discloses $1 Billion Raised After First Satellite Launch
- Musk-led company had inaugural mission Thursday for Starlink
- Internet network will be important funding source for SpaceX
This article is for subscribers only.
Space Exploration Technologies Corp. disclosed having raised more than $1 billion in equity offerings during the last few months, a day after launching the first satellites for a broadband service network Elon Musk is counting on becoming a major revenue source.
The closely held company has sold $486.2 million worth of equity in an offering involving eight investors that began in December, and $535.7 million from five investors in an offering that started in April, according to regulatory filings.