SPAC Shares Slide as $75 Billion SpaceX IPO Eyes $1.8 Trillion Valuation
Technology stocks have plunged this week as investors await SpaceX’s June 12 IPO, planned at $135 per share to raise roughly $75 billion at a $1.8 trillion valuation. This shift toward the record-breaking offering has diverted capital from SPACs like PSPAC, weighing on SPAC share performance.
1. SpaceX IPO Details
The upcoming SpaceX offering is set to price at $135 per share on June 12, aiming to raise about $75 billion and establish a $1.8 trillion valuation. This would mark the largest IPO in history and underscores investor appetite for marquee technology deals.
2. Impact on Tech Stocks and SPACs
Technology indices extended a decline that began in early June as funds flow into the high-profile SpaceX transaction. SPAC vehicles broadly have seen share prices pressured, while Bitcoin and other risk assets have also slumped in anticipation of new equity supply.
3. Implications for PSPAC
PSPAC shares have been hit by the redirection of investor capital toward SpaceX’s record-breaking IPO, raising concerns about limited dry powder and sponsor fees. The SPAC faces mounting pressure to identify and close a merger before pricing headwinds worsen further.
