Defense technology company Anduril is reportedly offering its employees a chance to sell shares in a tender offer that would value the business at $90 billion, according to CNBC. The report identifies the transaction as an employee tender offer, meaning workers would be able to cash out some of their equity.
If the valuation holds, Anduril would rank among the most valuable private companies in the defense industry. The figure underscores the growing appetite among investors for startups building military hardware and software, a sector that has become an increasingly important part of the private capital market.
The available portion of the CNBC report does not include additional details, such as the size of the offering or which investors would participate. The reported valuation is based solely on the tender offer's terms.