SpaceX priced
SpaceX files the hype into history.
Good morning.
Elon Musk now has the filing to match the hype. SpaceX’s SEC filing confirms 555,555,555 shares priced at USD135 ($191.6) each, raising USD74,999,999,925, with the stock set to trade from Friday afternoon (Saturday morning AEST) as SPCX on Nasdaq.
The demand imbalance is impressive. Bloomberg reported retail investors placed more than USD100 billion of orders and are expected to receive at least 20% of the available shares. Anchor orders reportedly came at USD10 billion each, with BlackRock seen asking for at least USD5 billion.
And a greenshoe option means the deal could still rise to USD86 billion and a USD1.78 trillion valuation if underwriters exercise it, the FT notes.
Either way, tomorrow’s debut will be a live test of how much Musk risk public markets can absorb.
| ▼ | ASX 200 | 8,633 | -0.23% |
| ▲ | ASX futures | 8,795 | +1.70% |
| ▲ | S&P 500 | 7,394 | +1.75% |
| ▲ | NASDAQ | 25,810 | +2.54% |
| ▲ | AUD/USD | 0.70 | +0.69% |
| ▲ | Bitcoin | 63,260 | +2.33% |
ASX 200 as at market close. Bitcoin in USD.
Market movers
| ▼ | ASX:AAI | $93.90 | -8.34% |
Shares in aluminium producer Alcoa fell Thursday after its alumina business became the ASX’s cleanest read-through from Iran risk, with the company warning of a USD60 million adjusted EBITDA hit from higher energy prices, Cyclone Narelle and bauxite offtake pressures.
