SpaceX’s blockbuster IPO aims to raise over $75 billion via its upcoming listing in June, but the Elon Musk-led company could get an additional boost via its underwriters, like Goldman Sachs Group Inc. (NYSE:GS).
An Underwriter-Backed Boost
In a post on the social media platform X on Wednesday, influencer Sawyer Merritt cited SpaceX’s filings with the Securities and Exchange Commission (SEC).
The influencer shared that the IPO’s demand is strong and that if the underwriters “fully exercise their overallotment option,” the commercial space flight giant’s share value would increase “by approximately $11.25 billion,” the post said.
Space ETFs Surge Amid IPO Buzz
The news comes as Space-themed ETFs recorded more than $5 billion in assets as the market readies itself for SpaceX’s IPO. The Tema Space Innovators ETF (NYSE:NASA), with over 7.5% of total weight comprising SpaceX, also grew nearly 50% since March.
The commercial space flight company, in its filings with the Securities and Exchange Commission (SEC), said that the company would be selling more than 555 million shares of the commercial space flight giant at $135/share. In the filing, the company has said it aims to raise $74.4 billion via the listing.
Musk-owned Class B shares would also be subject to a year-long lock-in period following the listing. The IPO could also trigger retirement funds like 401(k) accounts, buying into the stock as SpaceX looks set for expedited entries on the Nasdaq 100 and S&P 500.
SpaceX had also outlined a $28.5 trillion market opportunity for SpaceX, most of which was tied to the company’s artificial intelligence pursuits.
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