Elon Musk’s SpaceX is reportedly selling insider shares in an offering, with the implied valuation shooting up by about 10% since July.

What Happened: SpaceX has priced the shares at $77 apiece, giving the company a staggering valuation of $140 billion, Bloomberg reported, citing people familiar with the matter.

This represented an increase from the $127 billion valuation that prevailed in July, the report said, citing data from Pitchbook.

SpaceX reportedly zeroed in on the valuation after toying with a range of prices. The report also said it isn’t clear whether the company would settle for the same valuation in the eventuality of a primary funding round.

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Why It’s Important: SpaceX is the most valuable among the privately-held companies in the U.S. Musk’s stake in the company is at around $47 billion, according to Bloomberg’s calculations.

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