00:00It's Benzinga, bringing Wall Street to Main Street.
00:02SpaceX's IPO is well oversubscribed, with multiple institutional investors placing orders of $10 billion or more in shares
00:09as the offering draws wide demand ahead of a record-setting debut, according to Bloomberg.
00:15Banks leading the deal are expected to close the institutional order books Wednesday after the market closes at 4 p
00:21.m. in New York.
00:21SpaceX is offering 555.6 million shares at $135 each, which would raise $75 billion and value the company at
00:31$1.8 trillion.
00:33The IPO is set to price June 11th and begin trading the following day.
00:38Up to 30% of the offering is allocated to retail investors.
00:42SpaceX recently announced a $920 million monthly cloud services deal with Google, running through 2029, and a similar agreement with
00:50Anthropic.
00:51For all things money, visit Benzinga.com.
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