- SpaceX is reserving 5% of the IPO for certain employees, business partners and friends/family with no lockup — roughly $3.75B at the offering price — so those recipients could sell immediately and pocket big windfalls.
- The deal would sell 555.6M shares at $135 (~$75B raise); a typical first-day pop (e.g., ~20%) could vault the valuation toward the ~$2T range and inflate early gains.
- A new line in the filing says SpaceX “may issue a significant amount of equity” for acquisitions — boosting odds of large, stock-funded deals (Cursor’s ~$60B option is notable, and even talk of buying Tesla), which would dilute existing shareholders.
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