SpaceX IPO: Here's Why Another $20 Billion Capital Raise Is on the Way
SpaceX just completed its record-breaking IPO.
Overview
You've likely seen the headlines about Space Exploration Technologies (NASDAQ: SPCX) raising $75 billion during its June IPO. The true figure, however, is even higher.
When investment banks underwrite an IPO, they typically secure a "greenshoe" option that allows them to sell even more stock than planned should the IPO price surge on opening day. That was the case with the SpaceX IPO. In the end, the company ended up raising an impressive $85.7 billion from its public debut.
Details
"The additional money raised in the SpaceX overallotment is bigger than almost all tech IPOs on record," observes a CNBC report.
Source
Originally published at www.fool.com.
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