SpaceX listed on Nasdaq under the ticker SPCX on June 12, raising $75 billion in the largest IPO in history. Shares were priced at $135, and the stock jumped 20% on its first day of trading.
Only 4% to 5% of shares were made public. The remaining 12.5 billion shares are locked in a tiered schedule. Starting 70 days after the IPO, 7% of locked shares become eligible for sale. This 7% release repeats at days 90, 105, 120, and 135. Larger unlocks of 20% to 30% will occur after the company's Q2 earnings report, expected in August 2026.
Elon Musk and other major investors face a 366-day lock-up, preventing any share sales until June 2027 at the earliest.
This structure is designed to manage the massive supply of shares entering the market, preventing a sudden flood that could depress the stock price. Each scheduled unlock date represents a potential volatility event as investors position for the increased supply.