SpaceX launched a five-tranche bond sale targeting $20 billion to $25 billion with $89 billion in orders and raised $25 billion. Its shares have tumbled 35% from the peak, trading near the IPO price and briefly dipping below a $2 trillion market cap after a three-day rout.
SpaceX launched a five-tranche bond offering to raise between $20 billion and $25 billion, marking its debut in the US investment-grade market.
The offering attracted roughly $89 billion in orders, indicating oversubscription by more than three times the target range.
Following the bond sale launch, SpaceX shares slipped 35% from their peak, trading near the IPO price and briefly dipping below a $2 trillion market capitalization after three consecutive days of declines.
Short sellers have increased bets, with around 40 million shares sold short, representing approximately 5%–7% of publicly available float.
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