SpaceX Starship prototypes in Boca Chica, Texas. Photo: SpaceX

The valuation of Elon Musk’s SpaceX crossed $100 billion following a share sale by existing investors announced this week, CNBC has learned. SpaceX has an agreement with new and existing investors to sell up to $755 million in stock from insiders at $560 a share, according to multiple people familiar with the deal — increasing the company’s valuation to $100.3 billion. The company did not raise new capital at this time, sources said, with the purchase offer representing a secondary sale of existing shares.

The new share price is an increase of 33% from SpaceX’s last valuation of $74 billion at $419.99 a share in February, when the company raised nearly $1.2 billion. The company had a similar secondary transaction in February, with a deal for insiders to sell up to $750 million at the time.

Read more from CNBC >>>