FILE PHOTO: SpaceX founder and chief engineer Elon Musk speaks at a post-launch news conference to discuss the SpaceX Crew Dragon astronaut capsule in-flight abort test at the Kennedy Space Center in Cape Canaveral, Florida, U.S. January 19, 2020. REUTERS/Joe Skipper

(Reuters) – 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.

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, according to the report here

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 the broadband internet service operational by the end of 2020.

Reporting by Neha Malara in Bengaluru; Editing by Anil D’Silva



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