Walter Bloomberg: SPACEX RESERVES 5% OF IPO SHARES FOR INSIDERS SpaceX will allocate up to 5% of its IPO...

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SPACEX RESERVES 5% OF IPO SHARES FOR INSIDERS

SpaceX will allocate up to 5% of its IPO shares to employees and executives’ friends and family, according to an updated filing.

Unlike most IPO investors, participants won’t face lock-up restrictions. Meanwhile, over 60% of shares—including Elon Musk’s—will remain locked after listing.

The company is targeting a valuation of at least $1.8 trillion, with earlier estimates above $2 trillion.
(@WalterBloomberg)