Elon Musk’s SpaceX is looking to raise about $250 million, taking the private rocket company’s valuation to about $36 billion, CNBC reported on Friday, citing people familiar with the financing, APA reports citing Reuters.
The company plans to raise the amount at a price of $220 per share and the latest funding round is not expected to close until the second week of March.
SpaceX did not immediately respond to Reuters request for comment.
SpaceX has been launching Starlink satellites in batches of 60 since May and currently has 240 orbiting Earth. The company aims to make broadband internet service operational by the end of 2020.