SpaceX has raised US$25 billion through a senior unsecured notes sale after increasing the target from US$20 billion as orders approached US$90 billion.

The debt offering followed SpaceX’s June 12 IPO, which raised nearly US$86 billion, including the underwriters’ option. The debt proceeds would pay off bridge financing and fund general corporate needs.

SpaceX is seeking capital for its Starship rocket program, Starlink satellite internet business, and AI initiatives.

The company is also pursuing a planned US$60 billion all-stock acquisition of AI coding startup Cursor, even after disclosing about US$100.8 billion in cash.

Its prospectus said SpaceX has accumulated losses of US$41.3 billion since 2002 and that Starlink is its only profitable business.

More capital may not fully remove Starship bottlenecks.

The Federal Aviation Administration has increased the permitted Texas launch rate to 25 a year from five, but SpaceX still needs other licensing reviews.

🔗 Source: CNBC

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