SpaceX has attracted more than $70 billion in orders from individual investors for its initial public offering, according to Bloomberg, as the rocket and satellite company moves toward its scheduled Friday debut on Nasdaq.
Individual investors stand to receive no less than 20% of the shares on offer
Given the $75 billion deal size, individual investor demand would far outstrip what that share of the offering could satisfy. Bloomberg noted that nothing is finalized and the terms, retail allocation among them, remain subject to revision. Sources said that the deal’s key parameters — a price of $135 per share and a total of 555.6 million shares — are expected to hold.
That would raise approximately $75 billion and value the company at around $1.8 trillion. Less than 10% of shares are set to go to international buyers, Bloomberg reported. Roughly 1,000 institutional investors have submitted orders.