SpaceX IPO Greenshoe Exercise Lifts Total Proceeds to $85.7 Billion

SpaceX’s underwriters have formally exercised the over-allotment option in the company’s initial public offering, increasing total proceeds to $85.7 billion. According to Jin10, the Elon Musk-owned aerospace and artificial intelligence company completed an initial $75.0 billion fundraising last Thursday. The over-allotment option, commonly known as a “greenshoe,” was described as larger than nearly all recorded over-allotment arrangements in technology company IPOs. Underwriters typically choose to exercise the option when a stock price rises.