Chris Liu The COVID-19 cases come during a busy stretch for SpaceX, which has completed four Falcon 9 launches since Dec. 9. (Photo: Thom Baur/Reuters) Elon Musk's SpaceX is preparing to launch a tender offer in December, aiming to sell existing shares at $135 per share, according to sources familiar with the matter. This move would boost the company's valuation to over $250 billion, reflecting a significant increase from its June valuation of $210 billion. SpaceX did not immediately respond to requests for comment on the proposed offer. The Financial Times was the first to report the development on Friday, and it comes as SpaceX continues to expand its influence in both the commercial space sector and regulatory spheres. The rapid growth and valuation surge highlight the increasing market confidence in SpaceX's ambitious projects, from satellite deployments to human spaceflight and Mars exploration. SpaceX, which has become a linchpin in the United States' space ambitions, is expected to have an even larger role under President-elect Donald Trump, who has expressed support for the company's aspirations to reach Mars. Sources suggest that Musk's vision for human space exploration, particularly missions to Mars, could gain further prominence and potential government backing under Trump's administration. SpaceX's Starship rocket, a key component of NASA's Artemis program to return humans to the Moon, may see expanded support with a renewed focus on future Mars missions. While SpaceX's influence continues to grow, so do regulatory and safety concerns. The company has faced scrutiny over its approach to worker and participant safety during launches. A Reuters investigation documented over 600 worker injuries at SpaceX facilities across the U.S., raising questions about safety protocols and adherence to standard industry practices. Under the Trump administration, SpaceX is expected to push for looser regulations concerning private space flights and worker safety, potentially accelerating its operations but also drawing further regulatory attention. SpaceX President and COO Gwynne Shotwell has been vocal about the need for faster regulatory approvals, emphasizing that the pace of regulatory processes should match SpaceX's rapid innovations. "Our ambition is to keep pushing the boundaries of commercial space operations," she stated, noting that regulatory hurdles must be streamlined for industry growth. In addition to its human spaceflight and Mars ambitions, SpaceX's Starlink satellite internet network continues to make strides. The company is deploying approximately 60 satellites weekly, with a total of 7,000 satellites currently in orbit. Starlink, which serves nearly 5 million customers worldwide, plans to launch a direct-to-mobile satellite service soon, further expanding its reach and solidifying its dominance in the satellite broadband market. Despite the impressive growth, SpaceX executives, including Musk, see competition as a vital component for industry advancement. SpaceX's reusable Falcon rockets have already completed over 100 launches this year, dwarfing competitors like Rocket Lab, which has conducted a fraction of that number. Europe, in a bid to catch up, is working on developing its IRIS2 satellite system, but it faces significant technical challenges compared to SpaceX's rapid deployment capabilities. © 2024 Business Times All rights reserved. Do not reproduce without permission. More From BusinessTImes