SpaceX raised US$85.7 billion in its US initial public offering after underwriters exercised an overallotment option.

That lifted the total above the US$75 billion it initially raised at US$135 a share on June 11.

The stock rose 19% in its June 12 debut, a gain that often prompts use of the greenshoe option.

Securities and Exchange Commission records also showed that Space Exploration Technologies Corp. filed an S-1 in May.

SpaceX provides launches and operates the Starlink broadband network, making it a space and satellite communications company rather than an AI company.

The deal appears to be part of a broader reopening in large US tech listings. Market commentary said it pointed to strength in the initial public offering market.

It would rank among the world’s biggest initial public offerings. In satellite internet, Starlink serves more than 5 million customers globally, while Amazon’s Project Kuiper has launched 27 of a planned 3,200 satellites.

🔗 Source: CNBC

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