On June 15 local time, SpaceX released an investor relations update, confirming that the underwriters had fully exercised the IPO overallotment option, bringing the total proceeds from this IPO to approximately US$85.7 billion. The additional financing raised through this overall allotment alone exceeded the total funds raised by nearly all previous technology-sector IPOs combined.
Regarding the use of proceeds, SpaceX plans to advance the development and commercial operation of its Starship rocket series, expand the Starlink satellite internet service, build orbital data centers, and collaborate with Tesla and Intel to establish a chip factory in Texas.
On June 12, SpaceX finalized its IPO pricing, raising US$75 billion at an offering price of US$135 per share, setting a record for the largest single IPO in history.
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