SpaceX has officially closed its IPO, pulling in roughly $85.7 billion in gross proceeds after the underwriters exercised their full overallotment option.
The final share count came in at 638,888,888 shares of Class A common stock, with the extra 83,333,333 shares added after the investment banks handling the deal exercised the overallotment in full. Shares started trading on June 12 on both the Nasdaq Global Select Market and Nasdaq Texas under the ticker SPCX.
The deal was led by Goldman Sachs, Morgan Stanley, BofA Securities, Citigroup and J.P. Morgan, with Canada’s RBC Capital Markets also among the book-running managers on the historic offering.
SpaceX priced its IPO at $135 USD per share on June 11, valuing the company at around $1.75 trillion at the time. When shares started trading on June 12, they opened at $150 and surged as much as 30% in early trading, briefly pushing the company’s valuation above $2 trillion.
The strong debut made Elon Musk the world’s first trillionaire on paper, driven by his roughly 42% stake in the company combined with his Tesla holdings.
The offering was one of the most anticipated IPOs in history, with retail investors flooding platforms like Wealthsimple in Canada to get in on the action. SpaceX had been a private company since its founding in 2002, and longtime private investors including the Ontario Teachers’ Pension Plan, which put in $220 million USD back in 2019, are now sitting on massive gains.
As of writing, shares of SpaceX are trading at $186.82 per share, up over 16% for the day.
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