Elon Musk’s SpaceX corrects February’s capital increase to nearly $ 1.2 billion

A Falcon 9 missile will launch the company’s 14th Starlink mission on October 18, 2020.

SpaceX

Elon Musk’s SpaceX added more money to its most recent capital increase, according to a securities filing on Wednesday.

SpaceX held a second close of about $ 314 million, adding to the $ 850 million CNBC reported the company raised in February. The change brings the round’s new total equity to $ 1.16 billion, which the company raised at a valuation of approximately $ 74 billion.

Strong demand for the company’s stock revolves around its ambitious Starship and Starlink projects.

Starship is the next-generation rocket that Musk’s company is developing, designed to be more powerful than even the Saturn V rockets that took astronauts to the moon.

Starlink is a global satellite network that SpaceX is starting to use to provide high speed internet to customers.

Source