SpaceX IPO raised $10bn more than thought

SpaceX completed what was described as the largest IPO in history, raising a total of 85.7 billion dollars after underwriters exercised a greenshoe option for an additional 10 billion. The initial offering of 75 billion had already pushed the company toward a 1.8 trillion dollar valuation, with underwriters including Goldman Sachs, Bank of America and JPMorgan purchasing 83.3 million extra shares. On its first full trading day, SpaceX shares rose over 14% to about $184, lifting the stock’s price above the $135 offer price. Bloomberg’s calculations put Elon Musk at trillionaire status as market value climbed.