CNBC
• Justin Papp, Luke Fountain
SpaceX’s record IPO (~$86B) and new lock-up structure reshape markets, ETFs, and capital strategies
SpaceX has completed the largest initial public offering in history, raising roughly $86 billion. The company also implemented an unprecedented lock-up structure, which is already generating a new ETF “playbook.” Separately, first-known stock purchases by federal contracting-linked investors underscore how SpaceX’s government role remains politically intertwined.
