SpaceX shares fall 10% after bond offering
Shares of SpaceX dropped by more than 10% following the announcement of their first bond issuance. Despite the company’s significant investments in space rocket projects and artificial intelligence, it successfully raised $85.7 billion through its IPO, with Elon Musk retaining 82% of voting rights. The company aims to raise less than $20 billion through the bonds to restructure its budget and expand its investments. Although revenue grew by 33% to $18.67 billion last year, intense spending resulted in net losses.
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