Here's When Elon Musk Can Sell His Billions of SpaceX Shares
A ton of new SpaceX shares will flood the market over the next 12 months.
Overview
Space Exploration Technologies (NASDAQ: SPCX), or SpaceX as most know the company, recently became the largest IPO in history. But investors may not realize just how little of the company is currently trading on the market. SpaceX sold 555.6 million shares to public investors, which sounds like a lot, but it's not. That's only about 4% of the total company.
Major investors, employees, and insiders own the rest. That includes CEO Elon Musk, who owns approximately 42% of the company through a combination of more than 4.8 billion shares and stock options. However, Musk is bound to an extended lockup provision that prevents him from selling any of his shares until June of next year, or 366 days after the IPO.
Details
Here's a look at how these provisions might affect SpaceX stock between now and then.
Source
Originally published at www.fool.com.