SpaceX announces bond offering, discloses $100.8 billion cash reserves after record IPO
By
Samantha Subin
Summary
SpaceX announced a senior unsecured notes offering and disclosed holding approximately $100.8 billion in cash. The company plans to use the proceeds to pay off bridge financing and other general needs. This bond offering follows SpaceX's blockbuster IPO, which raised nearly $86 billion and made Elon Musk the world's first trillionaire. Shares fell about 8% following the announcement.
Source
bskySpaceX announces bond offering, discloses $100.8 billion cash reserves after record IPOcnbc.comKey quotes
· 5 pulledSpaceX on Monday announced a senior unsecured notes offering and disclosed about $100.8 billion in cash.
The space and artificial intelligence company plans to use the proceeds to pay off bridge financing and other general purpose needs.
SpaceX's inaugural bond offering comes days after the company's blockbuster initial public offering, which minted Elon Musk as the world's first trillionaire.
The deal raised nearly $86 billion after underwriters exercised the 'greenshoe' allotment.
Shares have surged since the company's June 12 IPO, pushing SpaceX's market value briefly past...
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