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SpaceX lock-up expiry could release 911.5 million shares ahead of first earnings

SpaceX will hold its first earnings announcement on Aug. 4, with the date coinciding with the first post-IPO lock-up expiry that could release up to 911.5 million shares. The company adopted a phased sale structure, allowing insiders to sell 20 percent of eligible locked-up stock after earnings. Additional shares could be released if the stock meets a price threshold. Short interest has risen as investors also watch launch schedules and cloud business expansion.

Industry

SpaceX alumni startup Terrafirma raises $115 million for remote construction equipment

Terrafirma, a construction technology startup founded by former SpaceX engineers, has raised $115 million, CNBC reported. Investors include Kleiner Perkins, Bain Capital Ventures, SpaceX, Anduril and Hadrian. The Austin, Texas-based company is developing technology to remotely operate construction equipment using interfaces including an Xbox controller. It says the technology reduces costs and improves safety, and its long-term goal is building infrastructure on Mars.

Industry

SpaceX IPO boost may have made thousands of employees millionaires, Musk says

SpaceX’s surge in valuation may have turned thousands of early employees into millionaires, Elon Musk (일론 머스크) said in a broadcast interview, including production-line workers whose shareholdings may now exceed $1 million. He said the company’s philosophy is for all employees to receive stock so they share in growth. Reports described stock options granted at hiring, reviews and promotions, and periodic private liquidity events. SpaceX shares rose after listing but later retreated.