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SpaceX raises over $1 billion through two funding rounds

24 May 2019, 20:28 UTC
SpaceX raises over $1 billion through two funding rounds
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WASHINGTON — SpaceX has raised over $1 billion in new capital this year as it embarks on the deployment of its Starlink broadband constellation, according to regulatory filings published Friday.
The launch provider turned satellite operator raised $486.2 million in one round, and $535.7 million in another, the company said in May 24 filings to the U.S. Securities and Exchange Commission.
The filings show SpaceX sold all but $18.8 million of the shares available between the two rounds. The company raised $1.022 billion in total.
SpaceX is currently building two capital-intensive projects — the fully reusable Super Heavy booster with its Starship upper stage, and the Starlink broadband megaconstellation of up to 12,000 satellites.
SpaceX CEO Elon Musk said in 2017 that the plan for funding Starship and Super Heavy — then called the Big Falcon Rocket — involved replacing SpaceX’s current Falcon 9 and Falcon Heavy rockets with the new launch system. In a call with reporters last week, Musk said SpaceX believes it can also use Starlink revenue to fund the new launch system.
How SpaceX would fund Starlink has remained a subject of discussion within the satellite industry. Gwynne Shotwell, SpaceX’s president ...

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