SpaceX is securing a $500 million line of credit through Fidelity to fund its plan to create an inexpensive internet service. Existing shareholders are also creating several special purpose financial vehicles to sell shares on the secondary market. These offerings could raise an additional $500 million. These share are reportedly selling for between $160 and $170.
Talks with the US Air Force will possibly generate $290 million in contracts for SpaceX. This money will likely be used to get 3 global positioning system satellites into orbit by the end of 2020. There is ongoing talks with private investors and commercial space companies. Some of the companies are Blue Origin, Virgin Orbit, Rocket Lab, Relativity Space and SpinLaunch. The talks will likely reduce the cost of launching payloads into space. Talks with satellite companies will reduce the costs for building the equipment for monitoring and communication technologies.
The race to build a space based infrastructure in not only heating up in the US. A Japanese company, ispace announced a $90 million first round of funding for the development of a lunar lander and two lunar missions by 2020.