SpaceX’s underwriters have officially exercised their overallotment option, increasing the total funds raised to $85.7 billion.
Elon Musk’s aerospace and AI company initially raised $75 billion on Thursday.
Brokers had the opportunity to purchase an additional 83.3 million shares through the overallotment, also known as the “greenshoe.”
This overallotment, which is larger than most tech IPOs on record, is typically exercised when the stock performs well.
SpaceX’s IPO is the largest ever, with shares priced at $135 each. The stock surged 19% in its debut on Friday.
Source (CNBC)
