SpaceX to release results on website, X only, bypassing wire services (updated)

Space Exploration Technologies

Mon 23:02

Adds details and background throughout

    June 15 (Reuters) - SpaceX SPCX.O will release quarterly and annual financial results, besides other material news, only through its website and social media account on X and not through wire distribution services, it said in a filing on Monday.
The move marks a departure from standard corporate communication practices, which typically involve newswire services like Business Wire or PR Newswire to reach a broad audience of investors and media outlets.
SpaceX said it "encourages members of the investment community, the media, and others to follow" its investor relations page on its website and its X account to review the information disclosed through those channels.
Shares of the company closed around 19% higher on Monday. They were up about 2% in extended trading.

    Earlier in the day, the company 
    said its underwriters had exercised the "greenshoe" option to purchase additional shares, increasing the total proceeds from its initial public offering to $85.7 billion.
Elon Musk's rocket, AI and internet conglomerate had raised a record $75 billion through the sale of 555.56 million shares at $135 apiece, becoming the largest IPO in history even before the greenshoe option was exercised.

        
  


 (Reporting by Sriparna Roy and Jaspreet Singh in Bengaluru; Editing by Anil D'Silva and Leroy Leo)
 ((Sriparna.Roy@thomsonreuters.com;))