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SpaceX IPO raises total of $85.7 billion as underwriters exercise ‘greenshoe’ overallotment option
Banks sold extra shares to meet demand, lifting the total raised to $85.7 billion and giving SpaceX fresh capital for debt reduction and expansion.
- SpaceX's historic IPO raised $85.7 billion on Monday after underwriters exercised the "green-shoe option," purchasing an additional 83.3 million shares to meet intense investor demand following the company's Nasdaq trading debut.
- Drawing more than $350 billion in interest, the initial $75 billion offering from SpaceX attracted $250 billion from institutional investors and $100 billion from retail traders, forcing underwriters to expand the deal.
- Proceeds will extinguish around $20 billion in legacy debt tied to Twitter and xAI, while funding SpaceX's AI compute infrastructure, launch capabilities, and Starlink connectivity arm expansion.
- Elon Musk became the world's first trillionaire with a net worth reaching an estimated $1.2 trillion, as SpaceX's valuation surpassed $2 trillion following the trading debut.
- Despite a 7.5% stock jump on Monday, Jay Ritter, a finance professor at the University of Florida, warned the "Elon Musk effect" may drive hype disconnected from fundamental performance, signaling potential long-term volatility.
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Ilona Mask's company attracted $85.7 billion.
SpaceX IPO raises $85.7 billion as underwriters exercise 'greenshoe' option
·India
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SpaceX IPO raises $85.7 billion as underwriters exercise 'greenshoe’ option
SpaceX has raised $85.7 billion in its U.S. initial public offering after underwriters exercised the "greenshoe" option, the rocket, AI and internet company founded by Elon Musk said on Monday.
·New York, United States
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Coverage Details
Total News Sources17
Leaning Left2Leaning Right3Center7Last UpdatedBias Distribution58% Center
Bias Distribution
- 58% of the sources are Center
58% Center
L 17%
C 58%
R 25%
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