SpaceX's bidding offer valued at $210 billion

According to Bloomberg on Thursday, Elon Musk's SpaceX is estimated to be worth $210 billion based on the price of insider shares that are being sold in a tender offer.

According to a Bloomberg article, SpaceX will conduct a tender offer in which shares will be sold for $112 apiece. The firm is valued at $180 billion, which is significantly more than it was at a previous tender offer in December.

A month prior, rumours from Bloomberg stated that SpaceX was thinking of selling shares for $200 billion.

Founded in 2002 by Elon Musk, the CEO of Tesla, the company is among the leading private producers of satellites and spacecraft. Through its subsidiary Starlink, it provides internet services based on satellite technology as well.

Additionally, the company has many contracts with NASA that it uses to supply equipment to crews and spacecraft for orbital missions as well as maintenance for the International Space Station.

Despite keeping much of its financing private, SpaceX is regarded as one of the world's most successful start-ups. High-value private companies frequently use tender offers as a means of raising finance.

(Sources: investing.com, reuters.com)