On Sept. 24, some SpaceX insiders became eligible to sell another 319 million shares, the 105th day after its IPO, The Motley Fool reports. The article puts their potential selling pressure at about $48.7 billion; eligibility does not mean the shares were sold.
The article says SpaceX’s prospectus allowed some insiders to sell shares before the usual 180-day lockup; Elon Musk is not eligible to sell his shares for 366 days. A separate early-release event made about 911.5 million shares eligible Aug. 6, two days after the company’s first quarterly report. Other time-based releases occurred on days 70 and 90, with later milestones set for days 120, 135 and 180.
SpaceX sold about 555.6 million IPO shares at $135 apiece, less than 5% of its outstanding shares, according to the article. It argues that successive unlocks expand the initially small tradable float and says SpaceX is losing money while spending aggressively on AI infrastructure.
