CNBC reports that Elon Musk’s SpaceX has completed an equity funding round of $850 million, raising the company’s valuation to $74 billion.
The company raised the new funds at $419.99 a share, those people said — or just 1 cent below the $420 price that Elon Musk made infamous in 2018 when he declared he had “funding secured” to take Tesla private at that price.
The latest round also represents a jump of about 60% in the company’s valuation from its previous round in August, when SpaceX raised near $2 billion at a $46 billion valuation.
In addition to SpaceX further building a war chest for its ambitious plans, company insiders and existing investors were able to sell $750 million in a secondary transaction, one of the people said.
SpaceX will use the funding to build out its 12,000-satellite Starlink broadband network and to develop its Super Heavy and Starship vehicles.
SpaceX Boca Chica Launch Site Scoping Period FAA Announcement
The FAA is holding a public scoping period to assist the FAA in determining the scope of issues for analysis in the draft environmental assessment (EA). As a part of the public scoping period, the FAA requests public comments. More information about providing public comments can be found at the end of this email.
SpaceX flew its Starship SN8 vehicle for nearly seven minutes on Wednesday, but the ship exploded as it attempted to land at the test site in Boca Chica, Texas.
The vehicle flew vertically, powered by three Raptor engines. One engine stopped, and then a second one stopped firing, leaving a sole Raptor to power the flight.
“Successful ascent, switchover to header tanks & precise flap control to landing point!” SpaceX CEO Elon Musk tweeted.
Starship then pitched and glided to its landing area. However, SN8 was not able to right itself using engine power before it struck the ground at 6 minutes 42 seconds into the flight.
“Fuel header tank pressure was low during landing burn, causing touchdown velocity to be high & RUD, but we got all the data we needed! Congrats SpaceX team hell yeah!!” Musk tweeted.
Prior to the flight test, Musk had estimated that SN8 had about a 30 percent chance of landing successfully.
SN8 was the latest in a series of Starship prototypes. SpaceX wants to use Starship and the Super Heavy rocket to launch crewed missions to the moon and Mars, satellites into orbit, and rapid point-to-point flights between distant locations on Earth.
WASHINGTON (FAA PR) — SpaceX has informed the Federal Aviation Administration (FAA) that it plans to apply for licenses for suborbital and orbital launches of its Starship spacecraft powered by the Super Heavy rocket at its launch site in Boca Chica, Texas.
Vicereports that SpaceX gave a Friday deadline for two Boca Chica Village homeowners to sell their homes or Elon Musk’s launch provider would pursue “alternate approaches” to get them to vacate the settlement near the company’s south Texas spaceport.
A dispute has erupted between several environmental groups and the federal government over the impact of SpaceX’s test operations at Boca Chica Beach in south Texas.
The issue: the Federal Aviation Administration (FAA) approved SpaceX’s plan to use the coastal site for launching its Falcon 9 and Falcon Heavy rockets up to 12 times per year.
However, Elon Musk’s company has instead been using its facilities to develop and flight test its larger Starship and Super Heavy boosters. The resulting impacts have been much greater than anticipated under the original proposal, environmental groups argue.
SpaceX’s plan to build components for its Starship and Super Heavy boosters at the Port of Los Angeles is dead — again.
Elon Musk’s company gave notice to the port on March 27 that it was backing out of a lease to locate a research, development, manufacturing and recovery facility at a dilapidated structure on Terminal Island.
SpaceX gave notice just over a month after harbor commissioners approved a 10-year lease with two 10-year extensions on Feb. 21. The agreement was later approved by the Los Angeles City Council.
SpaceX said the Starship Mk1 vehicle that exploded at its Boca Chica Beach test facility on Wednesday wasn’t going to fly, despite what company Founder Elon Musk had promised during a webcast in September.
“The decision had already been made to not fly this test article and the team is focused on the Mk3 builds, which are designed for orbit,” the company said in a statement.
The rocket, constructed out of stainless steel, literally blew its top while it was undergoing a pressurization test.
“The purpose of today’s test was to pressurize systems to the max, so the outcome was not completely unexpected,” SpaceX said. “There were no injuries, nor is this a serious setback.”
During a webcast from Boca Chica on Sept. 28, Musk stood in front of the vehicle and said it it would fly to 65,000 (19.8 km) within a month or two. He also said he hoped an upgraded variant of Starship would make an orbital flight within six months.
The SpaceX founder also talked about rapid iteration of the vehicle. Starships are being developed at Boca Chica and a site in Florida.
SpaceX is developing Starship for missions to Earth orbit, the moon and Mars. Musk has also pitched the spacecraft as a civilian transport for rapid point to point travel between distant locations on Earth.
For space missions, Starship will be teamed with a first-stage booster known as the Super Heavy.
If you had plans for Saturday night, you might want to change them.
SpaceX Founder Elon Musk will provide an update on the progress of the Starship Mk1 vehicle live from the company’s test site at Boca Chica Beach in Texas.
Musk tweeted the presentation will start at 6 or 7 p.m. CDT (7 or 8 p.m. EDT).. There are reportedly plans to webcast the event, most likely via the SpaceX website (www.spacex.com). However, those details have not been confirmed.
AFPreportsJapanese billionaire billionaire Yusaku Maezawa, who has booked a trip around the moon with SpaceX, will sell a majority stake in the Zozo fashion retailer he founded to Yahoo Japan for as much as 400.7 billion yen ($3.7 billion).
Yahoo Japan will acquire up to to 152.95 million shares for a 50.1 percent stake in the company, AFP reports. The total includes 92.7 million shares owned by Maezawa, who holds 30.37 percent of Zozo.
AFP reports he decided to sell to focus on a new business and his plans to fly around the moon in SpaceX’s Starship vehicle in 2023.
“I will leave Zozo’s future in the hands of a new president, and I’ll move on to a new path,” he said in a tweet.
The 43-year-old former wannabe rock star has a personal fortune this year valued around $2 billion, making him Japan’s 22nd richest person.
He made international headlines by booking a ticket aboard a SpaceX rocket, as well as for his purchase in 2017 of a Jean-Michel Basquiat masterpiece for $110.5 million.
At a press conference on Thursday, Maezawa cited his space plans and ambition to start a new business as reasons for stepping down.
SpaceX has filed an application with the Federal Communications Commission (FCC) for authority to fly its Starship vehicle to 22.5 km (14 miles/73,819 ft) from its test site at Boca Chica Beach in Texas.
The special temporary authority “is necessary to authorize Starship suborbital test vehicle communications for SpaceX Mission 1569 from the Boca Chica launch pad, and the experimental recovery following the suborbital launch.
“Recovery is limited to 2 functions: (1) prelaunch checkout test of the TC uplink from the ground station at Boca Chica (less than five minutes in duration) and (2) experimental uplink testing from the ground station at Boca Chica during descent,” the application stated.
SpaceX CEO Elon Musk will provide an update on plans for Starship and the Super Heavy rocket on Sept. 28 at the Boca Chica site.
Draft Environmental Assessment for the SpaceX Starship and Super Heavy Launch Vehicle at Kennedy Space Center (KSC) Full Report
Space Exploration Technologies Corporation (SpaceX) has prepared this Environmental Assessment (EA), with National Aeronautics and Space Administration (NASA) as Lead Agency, to evaluate the potential environmental impacts resulting from construction and operations associated with the proposed SpaceX Starship/Super Heavy launch vehicle at Kennedy Space Center (KSC). This EA analyzes effects on resources due to the Proposed Action and the No Action Alternative. Federal agencies are required to consider environmental consequences resulting from their actions.