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Benzinga

SpaceX avoids potential 456 million-share unlock as $175.50 threshold goes unmet ahead of earnings

AI Market Summary
A performance-triggered IPO lockup clause that could have released an extra 456 million SpaceX shares after its first earnings is now unlikely, with the stock far below the required $175.50 level. As a result, the near-term supply overhang is limited to the scheduled Aug. 5 unlock (~912 million shares) rather than a larger potential release, narrowing a key volatility risk around earnings.
Impact level
● Low
Affected assets
NCCOGOLD2USD/USDT-0.72%
AI Insight · NCCOGOLD2USD/USDTAI Insight
● Neutral
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A little-known clause in SpaceX’s IPO lockup agreement could have released up to 456 million additional nonaffiliate shares if the stock met a pre-earnings performance threshold. The trigger required shares to close at or above $175.50 on at least five of the 10 trading days before the first earnings release, a level tied to a 30% premium over the $135 IPO price. With the stock trading around $107—about 39% below the threshold—the condition has not been met. The situation concerns a potential IPO lockup release and does not involve listed traditional assets.
Disclaimer: The content above is only the author's opinion and does not represent BingX’s stance. It shall not be construed as investment advice from BingX. For details, refer to the Terms and Conditions.
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