Anduril employee tender offer would value the defense tech startup at $90 billion

Bloomberg was the first to report the news, citing sources familiar with the matter. 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.

Bloomberg reported that employees from 16 countries are eligible to participate.

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. In May, the company closed a $5 billion funding round that doubled its valuation to $61 billion.

Co-founder and Oculus headset creator Palmer 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.

This month, the company inked a U.S. Navy shipyard contract worth up to $2.9 billion, shortly after Luckey was named a co-director of Project Meridian, which aims to develop and scale military capabilities. SpaceX rocket maker CEO Elon Musk also joined the initiative.

Founded in 2017, Anduril has gained prominence for its drones, augmented reality headsets and AI software it’s developing for the U.S. government and allied governments. Last month, the company made headlines after Iran said it had captured one of its underwater vehicles.