Nasdaq Lists $200M SPAC and Fast-Tracks SpaceX 30% Index Inclusion
NDAQ•Nasdaq will list RMG ML Sports Holdings’ $200 million IPO of 20 million units at $10 each on its Global Market tier under the symbol SHOTU beginning June 10. Nasdaq’s index arm plans to fast-track SpaceX into major benchmarks, prompting passive funds to hold an estimated 30% of its float.
1. SPAC Listing of RMG ML Sports Holdings
RMG ML Sports Holdings priced an initial public offering of 20 million units at $10 each, raising $200 million in aggregate. The units will begin trading on the Nasdaq Global Market tier under the symbol SHOTU on June 10, with Class A shares and one-eighth warrants set to trade separately as SHOT and SHOTR once split.
2. Fast-Track of SpaceX Into Major Indexes
Nasdaq’s index division, alongside FTSE Russell and MSCI, is expediting SpaceX’s inclusion into core benchmarks by shortening waiting periods. This acceleration is expected to drive passive index funds to acquire roughly 30% of SpaceX’s free float within 15 days, potentially boosting demand and increasing index licensing revenues.
