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SpaceX raises $1.68 billion through equity financing


© Reuters. Axiom’s four-man crew takes flight, riding on top of a SpaceX Falcon 9 Rocket in the first private mission to the International Space Station. It took place from NASA’s Kennedy Space Center in Cape Canaveral in Florida, U.S. April 8, 20,22. REUTERS/Thombaur

Joey Roulette

(Reuters) -SpaceX has raised $1.68 billion through equity financing, the Elon Musk-founded rocket maker said in a regulatory filing on Monday.

SpaceX announced the latest financing round Monday, which was expected to bring in $1.725 Billion. The news comes while SpaceX continues its investments in Starship rocket development, and Starlink broadband internet constellation.

SpaceX received an earlier clearance from the Federal Aviation Administration stating that the Starship site at Boca Chica in Texas had no significant impact on the environment. This cleared a major hurdle which had caused delays in Mars rocket development.

SpaceX was subject to more than 75 conditions by the FAA. This result SpaceX considered “one step closer” to Starship’s first orbital flight test.

SpaceX’s Starlink satellite-unit has sent approximately 2,600 satellites into space in 2019 and is aiming to offer broadband internet around the world.