SpaceX's IPO ends up larger than first reported after over-allotment
SpaceX’s stock-market debut raised about $10 billion more than initially reported , the company disclosed, after the banks running the offering exercised their over-allotment option to sell additional shares. The listing, which began trading on the Nasdaq under the ticker SPCX on June 11, had first been reported at roughly $75 billion — already the largest IPO on record.
The over-allotment, or “greenshoe,” lets underwriters issue up to a set number of extra shares when demand outruns the original deal size; here they took the full allowance, lifting the total proceeds and confirming that investor appetite exceeded the initial book. The final tally puts SpaceX’s market value in the low trillions of dollars, among the most valuable companies to list publicly.
The size of the raise gives SpaceX a large cash cushion to fund Starship development and its Starlink build-out without leaning as heavily on private fundraising, while converting much of founder Elon Musk’s paper stake into a publicly priced holding.