Elon Musk’s SpaceX amends February equity raise to nearly $1.2 billion

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A Falcon 9 rocket launches the company’s 14th Starlink mission on Oct. 18, 2020.

SpaceX

Elon Musk’s SpaceX added more money to its most recent equity raise, according to a securities filing on Wednesday.

SpaceX held a second close of about $314 million, adding to the $850 million that CNBC reported the company raised in February. The amendment brings the round’s new total equity raised to $1.16 billion, which the company raised at a valuation of about $74 billion.

Strong demand for the company’s shares centers around its ambitious Starship and Starlink projects.

Starship is the next-generation rocket that Musk’s company is developing, designed to be more powerful than even the Saturn V rockets that carried astronauts to the moon.

Starlink is a global satellite network, which SpaceX is beginning to use to bring high-speed internet to customers.