Powerlaw Debuts at $35, Rises to $40 Above $13.97 NAV
DASH•Powerlaw Corp. opened at $35 on Nasdaq—well above its $13.97 net asset value—peaking at $40 before trading halts. The closed-end fund holds $604.1 million in net assets across 18 private firms, including $117 million in SpaceX and $46.9 million in OpenAI investments.
1. Nasdaq Debut and Trading Performance
Powerlaw Corp. began trading on Nasdaq at $35 per share, well above its $13.97 net asset value. Shares peaked at $40, triggering two trading halts before settling around $31 mid-session.
2. Tradable Float and Release Schedule
Approximately 20% of the 43.24 million outstanding shares were available for immediate trading, with the remaining shares scheduled to vest in three tranches over the next six months.
3. Portfolio Composition and Valuations
As of May 13, the fund held $604.1 million in net assets across 18 private companies, led by a $117 million investment in SpaceX and a $46.9 million stake in OpenAI. Anticipated IPOs of these firms have driven strong retail demand.
