Reuters: SpaceX IPO Demand Surpasses $250 Billion

SpaceX IPO demand exceeds $250 billion, nearly fourfold oversubscription.

Demand for Elon Musk’s SpaceX IPO has exceeded $250 billion, reaching nearly four times oversubscription, according to Reuters, citing its sources.

The company plans to raise about $75 billion by offering 555 million Class A shares at $135 each. Agency sources stated that the current level of oversubscription is 3.5-4 times the planned deal size.

Reuters emphasized that these figures reflect indicative interest from institutional investors, including large orders from long-term funds, and may change. Musk participated in several Zoom meetings with potential buyers, one of the agency’s sources noted.

SpaceX continues its marketing efforts. Company President Gwynne Shotwell and CFO Bret Johnsen, according to sources, are expected to attend a luncheon for institutional investors at Morgan Stanley’s Manhattan office, organized by the bank’s co-president Dan Simkovic.

The offering occurs amid extreme market volatility. On June 10, the Nasdaq Composite traded down after its largest one-day drop in over a year, while Bitcoin fell 2.8%, sitting 37% below its January peak.

Some analysts suggested that one factor in the market’s decline could be asset sales by buyers freeing up liquidity to participate in the SpaceX IPO.

In May, SpaceX filed a public IPO application with the SEC. According to the S-1 form, as of March 31, the firm held 18,712 BTC, acquired for $661 million.