SpaceX raises $1.68 bln through equity financing

Jun 15, 2022 | News

SpaceX has raised $1.68bn through equity financing, the Elon Musk-founded rocket maker said in a regulatory filing.

The fresh financing round, in which the company looked to raise $1.7bn, was disclosed in securities filings on Monday and comes as SpaceX invests heavily in its Starship rocket development and Starlink broadband internet satellite constellation.

SpaceX earlier in the day received a long-awaited clearance from the Federal Aviation Administration that its Boca Chica, Texas, Starship development site had no significant environmental impact, clearing a hurdle that had contributed to delays in the Mars rocket’s development.

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The FAA imposed over 75 conditions on the company, an outcome SpaceX viewed as “one step closer to the first orbital flight test of Starship,” the company wrote on Twitter, referring to Starship’s pivotal development milestone of reaching space for the first time.

SpaceX’s Starlink satellite unit has launched some 2,600 satellites to space since 2019 as it aims to provide broadband internet worldwide.

Source: Reuters

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