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SpaceX looks to raise $507 million in a new funding round: filing

Published 04/12/2018, 05:56 PM
© Reuters. An exterior of the SpaceX headquarters in Hawthorne

(Reuters) - Elon Musk-led SpaceX Corp is raising $507 million in a new round of funding, valuing the company at around $26 billion, according to a filing seen by Reuters.

New articles of incorporation filed by the company last week and sent to Reuters by private analytics firm Lagniappe Labs showed the addition of 3 million 'Series I' shares from a previous version filed in November.

The filing also gave the initial value of the Series I shares as $169, 25 percent higher than a value given in its previous fundraising round late last year.

SpaceX declined to comment on the new funding round, which was first reported by tech industry website The Information.

© Reuters. An exterior of the SpaceX headquarters in Hawthorne

The Hawthorne, California-based company has outlined plans for a trip to Mars in 2022, to be followed by a manned mission to the red planet by 2024.

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