In this offer, investors paid $70 per share to employees, the document shows. That's an enormous bargain compared to the share prices investors pay when investing in primary rounds ' where the company sells the shares directly to raise capital. During the primary sale in 2022, shares went for $270. (SpaceX hasn't sold shares in a primary round at a $70 price since its Series G went for $77.46 per share, the documents say. That was back in 2015, according to PitchBook.) Of course, the main reason for the giant discount in price is that employees own common stock and investors who buy into primary rounds typically buy preferred stock that entitles them to dividends and liquidation preferences. They are the first to be paid their investment back if the company ever sells itself. In fact, this doc reveals that as of 2022, if SpaceX sold itself, the first $6.67 billion would be owed to preferred shareholders. Since then, the company has raised another $750 million, so that sum first paid...
learn more
