SpaceX's initial public offering has grown to a staggering $85.7 billion after the deal's underwriters exercised what is known as a "greenshoe" overallotment option — a mechanism that lets banks buy additional shares when investor demand runs hot, according to CNBC.
The move pushed the total raised to a historic level. TechCrunch described it as SpaceX's "biggest-ever IPO" and noted that underwriters fully maxed out their share purchases, a sign of exceptional appetite from investors who wanted in on the offering.
The greenshoe option — formally called an overallotment option — is a standard Wall Street tool included in most large IPOs. When a stock debuts strongly, underwriters can exercise the option to buy extra shares from the company at the original offering price, locking in additional capital for the issuer while also helping to stabilize the stock price in early trading.
For SpaceX, the full exercise of that option signals that demand for shares well exceeded what was initially available — a rare occurrence even among marquee tech listings.
The $85.7 billion figure cements this offering as one of the largest in stock market history, and its success sets a new benchmark for how much private space and technology ventures can command when they finally open their doors to public investors.