SpaceX Raises $86 Billion in June IPO at $135 Valuation

SpaceX shares closed at $131.11 on July 16 after declining more than 3 percent, the first close below the company's June IPO price of $135. The stock later fell as low as $124 in after-hours trading after the company delayed its planned Starship rocket launch, the first since the firm went public. The company priced its IPO at $135 per share on June 11 and began trading on the Nasdaq on June 12.

Shares rose 19 percent on the first day of trading to as high as $193. The offering raised $75 billion, with underwriters later exercising rights to sell additional shares that brought total proceeds to $86 billion. SpaceX issued $25 billion in additional debt shortly after the IPO.

The stock has fallen every trading day except one since its debut and is now down 41 percent from its post-float peak reached on June 16. Market value has contracted by more than $1.2 trillion from that peak and by nearly $250 billion from the $150 opening price on June 12.

Elon Musk's net worth rose to as much as $1.32 trillion after the IPO before contracting to about $850 billion, according to the Bloomberg Billionaires Index.

Short sellers' positions in the stock have approached $4 billion. SpaceX is scheduled to release its first earnings report as a public company in the coming weeks. That report will trigger the initial expiration of share lockups for longtime investors.