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SpaceX is raising another $500 million

Dan Primack, author of Pro Rata

SpaceX Falcon 9 rocket lifts off last month. Photo by Jim Watson/AFP/Getty Image

SpaceX is raising up to $510 million in new funding for the second time this year, according to a Delaware stock authorization filing uncovered by the Prime Unicorn Index. Such filings do not guarantee that the issuer will sell all, or any, of the authorized shares.

The bottom line: Shares would be sold at a 9.7% premium to the prior round, which valued Elon Musk's private space company at over $30 billion. To date, SpaceX has raised around $2.75 billion from equity investors.

Go deeper: SpaceX launches (and then lands) its powerful Falcon Heavy rocket

Go deeper

Rebecca Falconer
45 mins ago - Energy & Environment

California governor declares drought emergency in most counties

A sign in April on the outskirts of Buttonwillow in California's Kern County, one of the top agriculture producing counties in the San Joaquin Valley, after historically low winter rainfall. Photo: Frederic J. Brown/AFP via Getty Images

California Gov. Gavin Newsom (D) extended a drought emergency declaration to cover 41 of the state's 58 counties on Monday.

Why it matters: Most of California and the American West are experiencing an "extreme" or "exceptional" drought, per the U.S. Drought Monitor. Newsom and other officials are concerned California could experience a repeat of the catastrophic 2020 wildfire season.

Go deeper (<1 min. read)Arrow
Alayna Treene, Glen Johnson
3 hours ago - Politics & Policy

Pelosi's Republican playbook

Illustration: Aïda Amer/Axios

As Republicans fight among themselves, House Speaker Nancy Pelosi (D-Calif.) is showing the myriad ways she deals with the GOP herself.

Between the lines: We've seen Pelosi cut opponents off at the knees, like she did with President Trump, or pretend to forget their names, as she did to Sen. Ron Johnson (R-Wis.). Now she's feeding oppo research against her House counterpart, Minority Leader Kevin McCarthy (R-Calif.), so others can use the same harsh rhetoric to frame the Republicans as the party of dysfunction.

Go deeper (2 min. read)Arrow
Russell Contreras
5 hours ago - Politics & Policy

Exclusive: Houston mayor to lead Black mayors group

Houston Mayor Sylvester Turner speaks during a private funeral for George Floyd. Photo: Godofredo A. Vásquez/Pool/Getty Images

The mayor of the city where George Floyd was raised is taking over a group that represents 500 Black mayors in the U.S. amid national pressure to revamp police departments.

Why it matters: Houston Mayor Sylvester Turner will become the new president of the African American Mayors Association as municipalities across the country examine police reforms and deal with the economic fallout from the pandemic.

Go deeper (1 min. read)Arrow