BlackRock Joins SpaceX IPO Rush With Massive $5B Order
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BlackRock 's reported $5B order for SpaceX IPO shares has added institutional weight to the company's planned Nasdaq debut, according to Bloomberg. The order book closed Wednesday, Bloomberg reported, leaving lead banks to decide how shares will be split among large funds, institutional clients and retail investors. A $5B request from BlackRock, the world's largest asset manager, does not guarantee that the firm will receive that amount. In heavily oversubscribed IPOs, investors often ask for more shares than they expect to get. SpaceX is seeking to raise roughly $75B at a valuation near $1.8 Trillion, which would make the listing the largest IPO on record and put the company among the world's most valuable firms. Also Read: Anthropic Proposes Tax On AI Companies To Fund Worker Displacement Programs Elon Musk has shaped the listing in ways that differ from a standard Wall Street IPO, including a larger possible role for individual investors and a governance structure meant to preserve founder control. SpaceX could allocate up to 30% of the offering to retail investors, a level that would be unusual for a major listing. That could amplify debut-day demand and affect liquidity in other risk assets, including Bitcoin (BTC) and Ethereum (ETH). The company's valuation reflects investor expectations for Starship, Starlink and other technology projects linked to SpaceX. The final...
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