February 11, 2012
SpaceX Could Go Public In 2013
The CEO of Space Exploration Technologies (SpaceX) is hoping to launch an initial public offering for the California-based space transport company sometime in 2013, according to various media reports Friday.
SpaceX Chief Executive and Paypal co-founder Elon Must told Bloomberg's Alan Ohnsman that there was "a good chance" that the company behind the Falcon 9 booster rocket and Dragon spacecraft would have an IPO next year. He did not elaborate on those comments, Ohnsman said.
According to Chris Burns of Slashgear, SpaceX could become the third Musk-owned company to go public within a three-year span. His Tesla Motors electric-car company sold shares for the first time in 2010, and his rooftop solar-powered systems manufacturer SolarCity Corp. is expected to prepare an IPO before the end of 2012.
If successful, Burns says that Musk would be "one of the few" men in history "to head three separate companies opening three separate IPOs in the span of three years."
SpaceX currently has contracts to launch satellites, and in April, their vehicles will start shipping supplies to the International Space Station (ISS), according to Ohnsman. Bloomberg adds that the company was established using funds from PayPal's IPO, as well as the sale of his stake in the online payment and electronic transfer company when it was acquired by Internet auction website eBay.
“SpaceX, in terms of launches awarded, is the world leader in space launch,” Musk said. “We´re beating the Russians, the Chinese, the Europeans, everyone.”
As for SolarCity, the San Mateo-based company could file with the Securities and Exchange Commission (SEC) as early as next month, a source told Ohnsman on Friday. That individual, who the reporter said asked not to be named, could be worth more than $1.5 billion, which could make Musk a billionaire.
"He owns a 26 percent stake in Tesla valued at more than $650 million, after adjusting for collateralized shares. His 25 percent stake in SolarCity would be valued at $375 million at the valuation the company is seeking," Ohnsman said. "Musk owns more than 70 million shares of closely held rocket maker SpaceX. Recent transactions in the private market have pegged his stake in SpaceX at about $875 million."
"SpaceX is currently doing very well on its own and will certainly benefit heavily from an IPO if they do indeed move toward such a situation," added Burns.
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