space x The underwriters have formally exercised their over-allotment of shares in the historic initial public offering, bringing the total raised to $85.7 billion, according to an update to investor relations released on Monday.
Elon Musk’s space and artificial intelligence company raised an initial $75 billion on Thursday, making it the largest IPO in history.
SpaceX’s brokers include: goldman sachs and morgan stanleyhad an option to purchase an additional 83.3 million shares as part of an overallotment commonly referred to as the “green shoe.”
The additional capital raised in SpaceX’s overallotment is larger than almost any technology IPO on record. Underwriters typically exercise over-allotments when stock prices rise.
SpaceX staff wore green shoes on Friday’s trading floor, agreeing to the “greenshoe” option, and Musk reshared the photo on X.
The stock price was set at $135 per share, but it soared on Friday’s debut, rising 19%. The stock price closed at around $161, valuing the company at over $2 trillion.
SpaceX stock continued to rise on Monday morning, rising more than 7% in its first full day of trading.
Musk told employees gathered at SpaceX’s Starbase headquarters in Texas on Friday that he wanted the company to go public now to raise money for “a critical phase of growth.”
SpaceX is expected to use the funding to complete the largest Starship rocket ever built or launched and begin commercial flights. These rockets are designed to someday be fully reusable and able to deploy SpaceX’s new V3 satellites, which could significantly expand Starlink satellite internet services.
The rocket is still being tested and has so far mainly carried dummy satellites into space.
The company also aims to build, launch and operate an AI data center in space, known as an orbital data center, and work with Musk’s automaker to build a large-scale chip factory. teslaand intel In Texas. Musk has touted space-based data centers as a solution to AI’s power needs, but the technology is still unproven and has many associated risks.
SpaceX’s revenues are smaller than any of the tech giants, and it posted a $4.9 billion loss last year, bringing its total losses since its founding to more than $41 billion. After Friday’s close, SpaceX was worth $2.1 trillion, 112 times its sales last year.
— CNBC’s Annie Palmer contributed reporting.
SpaceX daily stock price chart
