SpaceX Lockup Expiry to Release 911.5M Shares Tomorrow, Free Float to Double
A total of 911.5 million SpaceX shares held by employees and early investors will become eligible for trading on Tuesday, expanding the free float from 4.9% to 11.8% of outstanding shares.
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The upcoming unlock represents roughly 43% more shares than the 638.9 million offered in the company's IPO. Once the lockup expires, the additional supply will nearly double the percentage of shares available for public trading.
The larger float could introduce selling pressure as insiders gain the ability to monetize their holdings. The move is set to increase the stock's liquidity but may also weigh on the price in the short term.
Source: The Kobeissi Letter