SpaceX on Monday announced a senior unsecured notes offering and disclosed about $100.8 billion in cash.
The space and artificial intelligence company plans to use the proceeds to pay off bridge financing and other general purpose needs, but didn’t disclose how much it plans to raise.
Sources familiar with the matter told CNBC that SpaceX is looking to raise $20 billion, with the sale expected to kick off as early as Tuesday.
Shares fell 16% for a third consecutive losing session.
SpaceX’s inaugural bond offering comes days after the company’s blockbuster initial public offering, which minted Elon Musk as the world’s first trillionaire. The deal raised nearly $86 billion after underwriters exercised the “greenshoe” allotment.
Shares have surged since the company’s June 12 IPO, pushing SpaceX’s market value briefly past Amazon. The company has already leapfrogged Broadcom, Meta Platforms and Musk’s Tesla. include
At the same time, SpaceX is looking to fund its sweeping AI plans, which includes buying more chips and funding future data centers in space.
Reports emerged last week that the company was prepping to meet with investors over a bond offering aimed at raising about $20 billion.
