SpaceX Tender Offer Is Said to Value Company at $140 Billion (1)

Elon Musk’s SpaceX is offering to sell insider shares at a price that would raise the closely held company’s valuation to about $140 billion, according to people familiar with the matter.

Space Exploration Technologies Corp., as the company is formally called, is offering the shares for $77 apiece, said the people, who asked not to be identified because the information wasn’t public. The $140 billion figure compares with a $127 billion valuation in July, according to data provider PitchBook.

In recent weeks, SpaceX had held conversations for a range of prices but ultimately settled on $140 billion for the ...