Anduril opens employee share sale at $90 billion valuation — CNBC

In the United States, defense technology company Anduril has opened a tender offer for employees to sell shares, valuing the startup at approximately $90 billion. CNBC reports, citing confirmation from the company.

Terms of the offer

According to Bloomberg, participants in the program can sell shares at a price of $94.80 per share. The offer opened on October 13 and is set to close on November 9, with a cap of $1.3 billion.

Bloomberg also reported that Anduril employees from 16 countries may take part. In May, the company raised $5 billion in funding, after which its valuation doubled to $61 billion.

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Contracts and developments

Founded in 2017, Anduril develops drones, augmented reality headsets, and artificial intelligence software for the U.S. government and the governments of allied states. The company has become one of the notable players in the growth of the U.S. defense technology sector.

This month, Anduril signed a contract with the U.S. Navy for work at a shipbuilding facility worth up to $2.9 billion. Company co-founder and Oculus headset creator Palmer Luckey was appointed co-lead of Project Meridian, an initiative to develop and scale military capabilities. SpaceX CEO Elon Musk also joined it.

Last month, Iran said it had seized one of Anduril's underwater vehicles.