Key facts
- SpaceX's IPO proceeds reached $85.7 billion after underwriters exercised an overallotment option.
- The company initially raised $75 billion before the greenshoe option was exercised.
- Underwriters purchased an additional 83.3 million shares through the greenshoe option.
- SpaceX's stock surged 19% on its Nasdaq debut, closing at $160.95.
- Elon Musk's wealth was calculated to have reached trillionaire status following the IPO.
SpaceX's initial public offering concluded with total proceeds reaching $85.7 billion after underwriters exercised their overallotment option to purchase an additional 83.3 million shares. This figure surpasses the initial $75 billion raised, making it the largest IPO in history. The company, founded by Elon Musk, sold shares at $135 apiece. Following its debut on the Nasdaq, SpaceX's stock surged 19% on Friday, closing at $160.95 and lifting the company's market capitalization above $2 trillion. The 'greenshoe' option is a common feature in U.S. listings designed to support the stock price and manage volatility after trading begins, typically exercised when demand exceeds supply. Investor demand for SpaceX's offering reportedly exceeded $250 billion, indicating significant interest from both retail and institutional investors. Analysts described the market entry as a "Goldilocks" scenario, balancing investor rewards with avoiding leaving substantial funds on the table. Elon Musk was elevated to trillionaire status following the successful market debut, though this status is dependent on the stock's performance.
