SpaceX sinks 8% as it reveals $100B cash and new debt sale
- Source
- CNBC
- Time
- 3:33 PM
- Weight
- 94/100
SpaceX announced an inaugural bond sale on Monday, just days after its record-breaking initial public offering. Along with the offering of senior unsecured notes, the aerospace company disclosed a cash reserve of approximately $100.8 billion.
Despite the significant liquidity, SpaceX shares fell about 8% following the news of the new debt. The company intends to use the proceeds from the bond sale to pay off bridge financing and support general corporate needs.