SpaceX has raised more from its stock market debut than first announced, after banks involved in the listing bought additional shares to satisfy strong investor demand.
The Elon Musk-led company said the final proceeds from its initial public offering reached $85.7 billion, making the Nasdaq float even larger than the already historic figure reported last week. The original share sale brought in about $75 billion, with shares priced at $135 each and the company valued at roughly $1.8 trillion at the time of listing.
The increase came after the underwriters exercised an overallotment option, a standard feature in major public offerings that allows banks to purchase extra shares when demand is particularly high. In SpaceX’s case, the banks bought a further 83.3 million shares from the company, adding more than $10 billion to the total raised.
Such arrangements are designed to help stabilise trading in the early days of a listing, especially when investor interest is far greater than the number of shares initially available. The additional proceeds underline the scale of market appetite for SpaceX, which has become one of the world’s most closely watched technology companies because of its reusable rockets, Starlink satellite network, government contracts, and long-term space ambitions.
Musk has told employees that the money raised will support a “significant growth phase,” as the company continues to pour capital into launch capacity, satellite infrastructure, Starship development, and other expensive expansion plans.
Shares have continued to trade well above the offer price, extending SpaceX’s market value and adding further momentum to one of Wall Street’s most closely followed debuts. The rally has also boosted Musk’s paper wealth, with Bloomberg calculations indicating that the listing pushed him into trillionaire status.
That position, however, remains highly exposed to SpaceX’s share price, as much of his fortune is tied to his stake in the company. Analysts have also warned that the group’s soaring valuation gives it little room for disappointment.
SpaceX still faces regulatory pressure, heavy development costs, technical risks, and growing competition across the commercial space industry.