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FINWIRES

SpaceX First Lock-Up Expires, Allowing Insiders, Early Investors to Sell Shares

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SpaceX (SPCX) insiders and early investors will be eligible to sell their stock Thursday as its first lock-up expires, with 911.5 million shares becoming available to trade.

The unlock will more than double SpaceX's public float, increasing the proportion of freely tradable outstanding shares to 11.8% from 4.9%.

Instead of releasing all locked shares at once, the company has staggered the lock-up expiration across nine tranches that will free up shares over several months. Thursday marks the first and largest release.

SPCX shares have been trading below the company's IPO price of $135 for more than two weeks. Shares were up 1.6% in afternoon trading.

Price: $110.38, Change: $+2.11, Percent Change: +1.95%

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