LIVINGSTON, N.Y. — SpaceX is launching a new crowdfunding campaign aimed at boosting the company’s ability to make money for shareholders.
The company is using the new campaign, called the Spacex Equity Pledge, to raise $3 billion, an investment opportunity that would increase the company from its current valuation of $6.5 billion to $10 billion, and would help boost its dividend by $150 million, CEO Elon Musk said in a news conference on Tuesday.
Spacex is a privately held spaceflight company based in California and has been a pioneer in the commercial launch industry for more than 20 years.
Musk has said that the company is working on a new spaceplane, but that his company has no plans to put the project on hold.
Its been more than a decade since SpaceX was one of the most successful venture capitalists in the world, raising $60 billion in funding.
That was just in May of this year, and the company had already raised $5 billion through the crowdfunding campaign.
This new fundraising effort aims to give Musk the opportunity to build a company that could help him pay back his investors.
“SpaceX has always been a company with extraordinary ability to innovate, to grow, and to make huge strides in our mission to safely explore space,” Musk said.
He noted that SpaceX has raised more than $3.5 million through the equity pledge, and that this money would be used to increase the size of the company, expand its capabilities, and increase the number of jobs in the United States and around the world.
It would also help ensure that the investment will help the company get the best return on its investment.
Musk said that Spacex will use the new fund to hire more people, to fund new manufacturing facilities, and fund research and development.
SpaceX’s fundraising campaign comes as it continues to grapple with a $2 billion loss on its debt from a 2011 debt default that crippled the company.
In the latest filing with the SEC, SpaceX revealed that it had raised $1.7 billion in the most recent quarter of the year, which included a $1 billion dividend.
But the company also reported a loss of $1 million for the second quarter of this fiscal year.
During the latest quarter, SpaceX had $6 million in cash and cash equivalents on hand, with $2 million in short-term loans, according to the company filing.
That cash position will be liquidated in 2019, the filing said.
Musk declined to provide a number of the companies financing and said that investors would be able to access their funds through the company on the website.
While Musk has previously said that he does not have any plans to delay or scale the company up, his comments indicate that he has concerns about the sustainability of his company’s financial position.
Despite the company having raised a lot of money, Musk has been careful to not overstate the company and the ability of SpaceX to make a profit.
If the company can’t continue to invest, the company will need to be profitable by 2023 or 2028, according the filing.
SpaceX has been the most profitable private company in the U.S. for more years than any other.