SpaceX IPO raises $85.7 billion after underwriters excercise overallotment

Investing.com -- SpaceX has completed its initial public offering with a total of $85.7 billion raised after underwriters exercised their overallotment option. The space and artificial intelligence company led by Elon Musk initially raised $75 billion on Thursday.

The additional $10.7 billion came from the overallotment option, known as a greenshoe, which underwriters activated following the IPO. This greenshoe represents one of the largest among technology IPOs in history.

Underwriters generally activate the overallotment option when a stock's price increases after its debut.

You May Also Be Interested In

• Alphabet added to Dow Jones Industrial Average, Verizon dropped
• BioNxt Announces Closing of Non-brokered Private Placement of Units Pursuant to the Listed Issuer Exemption
• Azarga Metals Shareholders Approve All Resolutions at Annual General and Special Meeting