SpaceX Raises an Additional $10 Billion in IPO, Setting a Record $130 Trillion Public Offering

[Financial News] SpaceX, Elon Musk's space exploration company, was found to have raised an additional $10 billion, or about 15 trillion won, during its initial public offering (IPO) on the 12th local time, beyond the amount it had originally announced. That brought SpaceX's total offering size to $85.7 billion, or about 130 trillion won, once again breaking the record for the largest IPO in history.
On the 15th, the BBC reported that SpaceX said in a statement announcing the completion of its listing that it had secured an extra $10 billion after the underwriting syndicate fully exercised its over-allotment option. The broadcaster added that the additional $10 billion alone ranks among the largest sums ever raised in global IPO history.
The larger offering size was made possible by the so-called greenshoe option, an over-allotment mechanism. It allows underwriters to sell additional shares beyond the amount they initially agreed to buy, helping stabilize the market and prevent sharp swings in the stock price amid explosive early demand.
Major Wall Street investment banks, including Goldman Sachs, Bank of America (BoA), and JPMorgan Chase, served as underwriters for the listing. When investor demand for SpaceX shares far exceeded expectations, they fully exercised the over-allotment option and purchased an additional 83.3 million shares directly from the company.
Earlier, Chief Executive Officer Elon Musk told employees that the large-scale offering proceeds, which had previously stood at $75 billion, would be used as funding for the company's next major growth phase.
SpaceX's momentum did not slow after its market debut. On the 15th, its first full trading day on the Nasdaq Stock Market in New York, the company's shares surged more than 14% from the previous session to close at $184, or about 280,000 won. That was a sharp increase from the initial offering price of $135. Based on the offering price, SpaceX's valuation has already reached $1.8 trillion, or about 2,741 trillion won.
With this successful market debut, CEO Musk has officially joined the ranks of the world's first trillionaire. Because most of Musk's wealth is directly tied to his stake in SpaceX, the stock's sharp rally has lifted his net worth to an astronomical level.
However, because Musk's trillionaire title depends entirely on movements in the stock market, a steep drop in the share price could quickly strip him of the distinction.
Despite SpaceX's flashy debut, concerns are also emerging. Analysts warn that the company's current valuation could become a boomerang that leaves no room for even a small mistake in the future.
One market expert said, "SpaceX is still a company that is posting losses," and added, "With competition in the commercial space market intensifying and regulatory scrutiny becoming stricter, the key question is whether it can keep proving that its current hypergrowth is sustainable."

jjyoon@fnnews.com Yoon Jae-jun Reporter