SpaceX makes bond sale days after record IPO, discloses over $100 billion cash pile
SpaceX on Monday unveiled a senior unsecured notes offering and said it held about $100.8 billion in cash.
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SpaceX on Monday announced a senior unsecured notes offering and disclosed about $100.8 billion in cash.
Shares fell about 8%.
The space and artificial intelligence company plans to use the proceeds to pay off bridge financing and other general purpose needs.
SpaceX's inaugural bond offering comes days after the company's blockbuster initial public offering, which minted Elon Musk as the world's first trillionaire. The deal raised nearly $86 billion after underwriters exercised the "greenshoe" allotment.
Shares have surged since the company's June 12 IPO, pushing SpaceX's market value briefly past Amazon. The company has already leapfrogged Broadcom, Meta Platforms and Musk's Tesla.
Late last week, reports emerged that the company was prepping to meet with investors this week over a bond offering aimed at raising about $20 billion.
The company is looking to fund its sweeping AI plans, which includes eventually building data centers in space.
