$20 B Bond Plan Sends SpaceX Shares Down Over 14%
SpaceX disclosed plans to issue about $20 billion of investment-grade bonds to finance AI development and space data centers, causing shares to tumble over 14% on June 22. The selloff drove stock to its lowest price since the company's record-breaking IPO earlier this month.
1. SpaceX Announces Investment-Grade Bond Offering
SpaceX filed to sell approximately $20 billion of investment-grade bonds in its first debt financing since the June IPO, aiming to fund costly AI projects and build data centers in orbit.
2. Shares Plunge Over 14% to IPO Low
Following the bond disclosure on June 22, SpaceX shares dropped more than 14%, marking the lowest trading price since the company's record-breaking IPO earlier this month and wiping out significant market value gains.
3. Market Valuation Impact
Since peaking at roughly $2.99 trillion on June 16, SpaceX’s market valuation fell to about $2 trillion after the selloff, reducing Elon Musk’s net worth by an estimated $350 billion and raising questions over its capital structure.
