Elon Musk’s SpaceX is splitting the value of its common stock 10-for-1, CNBC has learned, with the company’s valuation having soared to more than $100 billion.
The split means that for each share of SpaceX stock owned as of Thursday, a holder now has 10 shares after the conversion. With SpaceX valued at $560 a share during its most recent sale, the split reduces SpaceX’s common stock to $56 a share, according to a company-wide email obtained by CNBC.
“The split has no impact on the overall valuation of the company or on the overall value of your SpaceX holdings,” the email said.
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