Anduril Tender Offer Values Defense Tech Startup at $90 Billion

Anduril Opens Employee Tender Offer at $90 Billion Valuation

Defense technology startup Anduril will give employees the opportunity to sell stock through a tender offer that values the company at roughly $90 billion, CNBC has confirmed. Bloomberg was first to report the news, citing sources familiar with the matter, and Anduril confirmed the report to CNBC.

Employees participating in the offering can sell shares at $94.80 apiece. The offer, which opened on Oct. 13 and closes Nov. 9, is capped at $1.3 billion. According to the report, employees in 16 countries are eligible to participate.

Valuation Jumps From $61 Billion

The tender offer marks a significant increase in the company's valuation. In May, Anduril closed a $5 billion funding round that doubled its valuation to $61 billion. Founded in 2017, the company has gained prominence for its drones, augmented reality headsets and AI software developed for the U.S. government and allied governments.

Defense Contracts and Washington Ties

Anduril has been a major winner of the growing U.S. defense tech boom and President Donald Trump's plans to reindustrialize the U.S. military. This month, the company inked a U.S. Navy shipyard contract worth up to $2.9 billion, shortly after co-founder Palmer Luckey, the creator of the Oculus headset, was named a co-director of Project Meridian, an initiative that aims to develop and scale military capabilities. SpaceX CEO Elon Musk also joined the initiative.

Luckey is among a growing group of defense tech leaders taking on advisory roles in Washington as they compete for key Department of Defense contracts. Last month, the company made headlines after Iran said it had captured one of its underwater vehicles.

Sources: CNBC · Techmeme