SpaceX IPO raises total of $85.7 billion as underwriters exercise ‘greenshoe’ overallotment option
Underwriters sold an extra 83.3 million shares to meet demand, lifting the total raised to $85.7 billion and creating the largest IPO windfall ever.
- On Friday, SpaceX advanced more than 19% on its first day of trading, reaching a market value of $2.1 trillion after closing at more than $160.
- Despite skepticism regarding the company's eye-watering valuation, investors fueled the record-breaking debut as SpaceX focuses on three businesses: rocket launches, satellite-based connectivity, and artificial intelligence.
- "The stock's strong opening reflects genuine market enthusiasm," said Alexander Lis, CIO of SDV, with the debut aligning with the 21.6% average gain of historical IPOs.
- Mike Alves, a fund manager at VIDA Vision Fund, warned that "valuation appears stretched relative to near-term profitability," citing the company's annual loss of $4.9 billion last year.
- Elon Musk aims to send 100,000 satellites into space for communications, signaling a "significant growth phase" while long-term backers Ark Invest and Baron Capital maintain their support.
68 Articles
68 Articles
Larry Ellison, Jack Dorsey and a Saudi Prince: The Surprise Winners of Spacex's IPO
SpaceX completed the largest initial public offering in American corporate history. Shares were priced at $135 each. The stock closed up roughly 19% on its first trading day at approximately $160.95, then another 20% on the second trading day to close at $229.40. The headline number was staggering. SpaceX raised $75 billion by selling 555.6 million shares, and its market capitalisation settled at approximately $2.2 trillion at the close of openi…
Last Friday it will be inscribed in the financial history. SpaceX, the aerospace company of Elon Musk, was placed in the stock exchange, in the Nasdaq, at $135 per share and captured about $75 billion.The placement set a record, as it was three times higher than the previous record, the placement of Saudi Aramco in 2019, and tore up its contributions with a valuation close to $1.77 billion that in the first session exceeded the 2 billion.The pla…
On June 12, SpaceX held its first stock exchange, which enabled its founder and CEO, Ilon Mask, to become the world's first dollar trillionaire, but he is not the only one who has won the largest IPO in history. Among other beneficiaries are executives and former employees, venture investors, university foundations, and even one of the direct competitors of SpaceX. The Wall Street Journal and Business Insider have compiled illustrative lists of …
SpaceX IPO Surge Sends Rocket Lab (NASDAQ: RKLB), AST SpaceMobile (NASDAQ: ASTS), And Intuitive Machines (NASDAQ: LUNR) Into Sharp Decline
SpaceX made a dramatic stock market debut, jumping roughly 19% in its first session as a public company, while several smaller space sector rivals moved sharply in the opposite direction. Rocket Lab (NASDAQ: RKLB), AST SpaceMobile (NASDAQ: ASTS), and Intuitive Machines (NASDAQ: LUNR) all fell meaningfully on the same day investors were celebrating SpaceX’s historic market entry. One leading theory is that investors sold existing space holdings t…
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