SpaceX’s first lockup release in August may flood markets with 911.5 million shares, exceeding its $85.7 billion IPO float.
SpaceX shares fell to $131 on Thursday, below their $135 IPO price, after a scrubbed Starship launch. The stock now faces a larger test: lockup expirations beginning in August, which could release 911.5 million shares—more than the entire IPO float—worth $115 billion at current prices.
The June 12 IPO sold less than 5% of SpaceX’s 13.2 billion shares. Under lockup terms, 911.5 million shares become sellable after the first earnings report, with an additional 455.8 million shares unlocking if the stock rises 30%. The company has not yet scheduled its earnings release.
The potential supply wave could pressure shares further, as early investors and employees gain liquidity for the first time since the IPO.