Published On: Fri, Apr 13th, 2018

SpaceX looks to raise $507 million in a new funding round: filing

(Reuters) – Elon Musk-led SpaceX Corp is raising $507 million in a new round of funding, valuing the company at around $26 billion, according to a filing seen by Reuters.

FILE PHOTO: An exterior of the SpaceX headquarters in Hawthorne, California May 29, 2014. REUTERS/Mario Anzuoni

New articles of incorporation filed by the company last week and sent to Reuters by private analytics firm Lagniappe Labs showed the addition of 3 million ‘Series I’ shares from a previous version filed in November.

The filing also gave the initial value of the Series I shares as $169, 25 percent higher than a value given in its previous fundraising round late last year.

SpaceX declined to comment on the new funding round, which was first reported by tech industry website The Information.

The Hawthorne, California-based company has outlined plans for a trip to Mars in 2022, to be followed by a manned mission to the red planet by 2024.

Reporting by Munsif Vengattil and Laharee Chatterjee in Bengaluru and Heather Somerville in San Francisco, Editing by Rosalba O’Brien

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