SpaceX Just Raised $85.7 Billion From Its IPO. Why Did the Company Raise Another $25 Billion by Selling Bonds?
SpaceX now has over $100 billion in capital to deploy.
Overview
Space Exploration Technologies (NASDAQ: SPCX) just conducted one of the largest IPOs in history. The company aimed to raise around $75 billion in new capital. Due to high demand, however, the company ended up raising a total of $85.7 billion once underwriter options were included.
Many investors were then surprised to see the company return to capital markets just weeks after the IPO, raising an additional $25 billion through a bond sale. According to CNBC, the sudden bond deal "highlighted the group's intense financing needs, capital spending plans and future refinancing obligations."
Details
Let's break down exactly what that means.
Source
Originally published at www.fool.com.
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