SpaceX gets federal approval to launch 7,000 satellites into orbit

Space X launch
A SpaceX launch. Photo: Bill Ingalis/Nasa via Getty Images

Elon Musk's SpaceX won permission from the Federal Communications Commission to launch 7,000 Starlink internet satellites into space, creating a path for the company to build a network of nearly 12,000 satellites surrounding the Earth and providing internet access, the Washington Post reports.

Why it matters: The satellites could provide next-generation internet access to developing countries and rural areas that have struggled with connectivity over the years.

SpaceX preps first-ever institutional debt offering

Illustration: Sarah Grillo/Axios

SpaceX, the commercial space company led by Elon Musk, has launched a $750 million leveraged loan led by BofA Merrill Lynch. A meeting with prospective lenders is set for this morning, according to LevFin Insights.

Why it matters: This would be SpaceX's first foray into the institutional debt market, and could result in some of the company's financials becoming public.

More stories loading.