SpaceX waives lock-up for 5% of shares in upcoming IPO
SpaceX reserves 5% of its IPO shares for selected buyers and waives lock-up rules. The firm seeks a $1.75 trillion valuation using a phased release structure.
SpaceX will reserve 5% of its IPO shares for selected employees and associates, exempting them from standard post-listing lock-up restrictions. The rocket company is pursuing a $1.75 trillion valuation through this directed share program. The filing did not disclose how many shares would ultimately be allocated or identify the eligible recipients.
According to a regulatory filing released on Monday, executive officers will select the individuals eligible for the 5% share pool. These participants can purchase shares at the IPO price without the typical six-month waiting period. Any shares not purchased through the directed program will be sold to the general public.
