What SpaceX's Lockup Expiry Could Mean for Anthropic's IPO Strategy
SpaceX had a gigantic IPO, and more shares are coming as insiders' lockups expire, potentially clouding the picture for other large IPOs.
Overview
The Space Exploration Technologies (NASDAQ: SPCX) initial public offering (IPO) was record-setting, raising $75 billion from investors. Add in the underwriters' overallotment, and the total balloons to over $85 billion. That's a big draw for other closely followed private companies, such as Anthropic, as it suggests they could collect a huge payday, too. But the nine insider lockup expirations scheduled for SpaceX could muddy the waters. Here's why.
In the technology sector, stock options are usually a big deal. They are used to lure employees and keep them around, giving these insiders a stake at the table as the company grows. Often, early investors in tech companies have large stock holdings, as well. The hope is that when a private company goes public, insider shares will suddenly become more valuable and more liquid. In other words, insiders are looking for a big payday.
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Originally published at www.fool.com.