Nov 15 (Reuters) – Elon Musk’s rocket and satellite company SpaceX is in talks about an offering of mostly secondary shares that could value the company at up to $150 billion, representing a 20% increase in valuation, sources told Reuters.
The offering would be aimed at helping employees and shareholders cash out, two of the sources said. That view appears to contradict earlier information from a separate source that the offering would raise up to $1 billion for SpaceX via a new share issuance.
Talks with potential investors are centering around a price of $85 apiece for SpaceX shares, up from a split-adjusted $70 per share fetched earlier this year, sources said.
Redesign Health, a company that builds other healthcare startups, tells Fast Company it has raised $65 million in fresh capital as it pushes forward in its goal to create dozens more startups in the next five years.
Founded in 2018 by CEO Brett Shaheen, Redesign’s team of about 300 researches, assembles, brands, and launches healthcare startups by tapping into its team of entrepreneurs, healthcare industry operators, business analysts, and investors. Though the company has often been compared to a VC fund or accelerator, Redesign sets itself apart by not fitting into a single box.
Ashley Graham is building up her brand portfolio with a new investment and partnership.
The model revealed on Tuesday she is joining affordable skin care brand Fig.1 as an investor and partner. In her role, Graham is part of the brand’s board and is involved in product development.
“As a general rule with my business, I really only take on projects that I believe in and products that I like and work,” Graham said. “I wasn’t necessarily looking to start a skin care line or beauty line or anything like that, but I was looking to fill the holes within my skin-care routine and also find something that was a little bit more affordable, so I stumbled on Fig.1.”
Prior to Fig.1’s official launch last year, Graham was introduced to the brand’s cofounder and chairman, Kimmy Scotti, through a mutual friend. Graham was intrigued by the products’ science-based and clinically tested products, as well as its commitment to sustainability through refillable and reusable packaging, which encouraged her to invest in the brand.
Athletic Greens, which created AG1, a powdered beverage designed to provide daily nutrition, raised $115 million in new funding that boosts its pre-money valuation to $1.2 billion.
The New York-based company got its start in 2010 by founder and CEO Chris Ashenden and is the result of his journey to find out why he continued to feel bad.
“I am a health and wellness-obsessed person, and despite knowing what I thought was a lot about nutrition and wellness, I kept getting sick,” Ashenden told TechCrunch.
Alpha Wave Global led the growth funding round and was joined by new investor Mark Vadon, returning investors SC.Holdings, David Blitzer’s family office Bolt Ventures and Dr. Peter Attia, as well as a group of product users. As part of the investment, Rick Gerson, chairman and chief investment officer at Alpha Wave Global, and Vadon, founder of Zulily and Blue Nile and former chairman of Chewy, will join the Athletic Greens board of directors
Spring Hill the content and consumer product company founded by NBA superstar LeBron James and Maverick Carter, has raised a new round of financing that values the company at $725 million.
Investors in the new round include Gerry Cardinale’s RedBird Capital (which is leading the investment round), the athletic apparel giant Nike, Boston Red Sox owner Fenway Sports Group and video game studio Epic Games. James and Carter will remain majority owners of the company.
In addition to helping fund an international expansion, SpringHill says it will use the infusion of cash on “acquiring valuable new IP, pursuing synergistic M&A and investing in emerging creators.”