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SpaceX Sets Aside 5% of IPO Shares for Selected Buyers | Honolulu Star-Advertiser
The direct share program lets selected participants buy stock without lock-up restrictions as the offering could raise $75 billion, according to the filing.
- On Monday, an amended filing revealed SpaceX has reserved up to 5% of its IPO stock for "certain employees and persons" in a direct share program.
- Morgan Stanley is administering the program, where participants are "selected based on the discretion of our executive officers" and shares are not subject to lock-up restrictions.
- Companies including Airbnb, Uber, and Rivian have used similar programs, mirroring the approach Musk took during the 2010 Tesla IPO, which included up to 1.28 million shares.
- The offering is expected to raise $75 billion, following SpaceX's valuation at $1.25 trillion earlier this year when Musk merged the company with his artificial intelligence startup.
- SpaceX's roadshow could begin this week, with the company potentially debuting on the Nasdaq as soon as June 12, aiming to join Facebook and Alibaba as tech companies valued at $100 billion after first trading day.
Insights by Ground AI
16 Articles
16 Articles
Overall rating of 1.75 trillion dollars targeted
·Vienna, Austria
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SpaceX sets aside 5% of IPO shares for selected buyers | Honolulu Star-Advertiser
NEW YORK >> SpaceX has reserved 5% of the shares in its planned initial public offering for certain employees and individuals selected by its executive officers, exempting them from post-IPO lock-up restrictions, according to a regulatory filing released on Monday.
·Honolulu, United States
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Water scarcity was added as a risk factor in the bid document released on Monday
·Brazil
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Coverage Details
Total News Sources16
Leaning Left2Leaning Right4Center5Last UpdatedBias Distribution46% Center
Bias Distribution
- 46% of the sources are Center
46% Center
L 18%
C 46%
R 36%
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