Space Exploration Technologies (SPCX) IPO Raises $85.7 Billion

Space Exploration Technologies Corp. (NASDAQ: SPCX) went public on June 12, selling 638.9 million shares at $135, raising $85.7 billion. CEO Elon Musk agreed to a 366-day lock-up on his shares, which prevents him from selling until June 12, 2027. However, nearly 6 billion additional shares will be released for sale in staggered lock-up phases over the next year, starting with 912 million shares already unlocked on August 6. This significant share availability may impact the market dynamics for SpaceX investors and potential buyers.