SpaceX closes an IPO with $85.7 billion in gross proceeds

SpaceX announced on 15 June that its initial public offering had closed, producing approximately $85.7 billion in gross proceeds. The company reported an aggregate 638,888,888 Class A shares issued, including 83,333,333 additional shares bought through the underwriters’ fully exercised overallotment option. Its shares began trading on 12 June on the Nasdaq Global Select Market and Nasdaq Texas under SPCX. SpaceX IPO closing release.

The release separates the first trading day from completion of the share issuance three days later. It also says the US registration statement became effective on 11 June. That sequence identifies when the offering moved through authorisation, market trading and settlement. Gross proceeds describe the offering before its costs; they are not a measure of operating revenue. SpaceX’s announcement confirms a major change in its access to capital and public ownership. It does not supply evidence for a prediction about future share prices or the return that an investor might earn. SpaceX IPO closing release.