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

Key points

• Anduril employees can sell shares in a tender offer valuing the defense tech startup at about $90 billion.
• The offer runs from Oct. 13 to Nov. 9, with shares priced at $94.80 and a $1.3 billion cap.
• Anduril's valuation has more than doubled since a $5 billion funding round in May valued it at $61 billion.

Anduril will allow employees to sell stock through a tender offer that would value the defense tech startup at roughly $90 billion, CNBC has confirmed. Bloomberg first reported the news, citing sources familiar with the matter, and Anduril confirmed the report to CNBC.

Employees who take part can sell shares at $94.80 each. The offer opened on Oct. 13 and closes on Nov. 9, and it is capped at $1.3 billion, according to the report.

Who can participate

Bloomberg reported that employees in 16 countries are eligible to take part in the tender offer.

Anduril, founded in 2017, has become known for drones, augmented reality headsets and AI software it is developing for the U.S. government and allied governments. Last month, Iran said it had captured one of the company's underwater vehicles.

Defense tech growth

Anduril has been a major beneficiary 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 Department of Defense contracts. This month, Anduril signed 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 CEO Elon Musk also joined the initiative.