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That’s a 5 percent increase from the company’s last tender offer in December at a price of $77, which valued the company at about $140 billion.

Founded by Musk in 2002, SpaceX remains privately owned, but conducts regular secondary sales to offer employees the chance to cash out stock granted as part of their compensation packages.

SpaceX does not report financial results, but appears to have found success as the world’s busiest rocket launcher, handling contracts with commercial satellite operators, NASA, and other government entities. Starlink, the company’s satellite communications service, has also been a revenue driver, inking deals with telco firms around the world to provide broadband and cell phone coverage.

Starlink has built a fast-growing network of more than 3,500 satellites in low-Earth orbit that can provide connectivity in remote areas.