SpaceX Raises $25 Billion in Debt Sale After Record IPO

SpaceX raised $25 billion in a senior unsecured notes offering less than two weeks after its record IPO, CNBC confirmed. The company announced the debt sale on Monday, initially targeting $20 billion before upsizing by $5 billion on Tuesday after receiving nearly $90 billion in orders. The capital raise follows SpaceX's blockbuster IPO on June 12, which raised nearly $86 billion including the underwriters' option and turned CEO Elon Musk into the world's first trillionaire. SpaceX disclosed on Monday it now holds just over $100 billion in cash.

SpaceX Receives $90 Billion in Orders for Debt Sale

SpaceX announced a senior unsecured notes offering on Monday, with sources telling CNBC the company initially sought to raise $20 billion. By Tuesday, SpaceX had received nearly $90 billion worth of orders and upsized the sale by $5 billion, according to people familiar with the fundraising who asked not to be named because the details are private. Bloomberg first reported the orders figure.

Bank of America, Citigroup, Goldman Sachs Manage Bond Offering

Banks managing the bond sale include Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase and Morgan Stanley. The bond sale represents one of the largest in the AI era. Earlier this year, Oracle raised $25 billion in a bond offering, Amazon raised about $54 billion and Alphabet pulled in about $31.5 billion in bond sales in the U.S. and Europe.

SpaceX Holds $100 Billion Cash After IPO

SpaceX disclosed on Monday it now has just over $100 billion in cash following its IPO on June 12. According to its prospectus, SpaceX has accumulated a total loss of $41.3 billion since the company's founding in 2002. The only profitable part of SpaceX's business is Starlink.

FAQ

How much did SpaceX raise in its debt sale?
SpaceX raised $25 billion in a senior unsecured notes offering announced on Monday. The company initially targeted $20 billion but upsized the sale by $5 billion on Tuesday after receiving nearly $90 billion in orders.

When did SpaceX complete its IPO?
SpaceX completed its IPO on June 12. The IPO raised nearly $86 billion including the underwriters' option.

Which banks managed SpaceX's bond sale?
Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase and Morgan Stanley managed the bond sale.