New equity round reportedly values Sierra Space at $5.0 billion
Sierra Space is reportedly raising about $300 million in a funding round led by MUFG, Kanematsu and Tokie Marine.
Sierra had raised $1.4 billion last yearCopy link to section
Its previous investors as well as insiders also participated in the equity round that valued the aerospace firm at about $5.0 billion, as per people familiar with the matter.
Sierra Space had raised $1.4 billion from the likes of BlackRock, Coatue, General Atlantic, AE Industrial Partners and Moore Strategic Ventures in 2021. That round had valued it at about $4.5 billion.
Citigroup is serving as an advisor on the transaction, as per CNBC that first reported this news. Sierra Space is a subsidiary of Sierra Nevada Corporation.
Sierra Dream Chaser to fly later this yearCopy link to section
Sierra Space will likely make the official announcement by the end of this week, the anonymous sources added. So far, though, it has refrained from commenting on the CNBC report.
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The Colorado-based company is currently awaiting the first flight of its Dream Chaser. The reusable lifting-body spaceplane is expected to berth to the International Space Station in December.
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Sierra is among the handful of companies committed to building a private space station. The space technology firm is slated to fly its Large Integrated Flexible Environment or LIFE habitat on a demonstration mission in 2026.