Every eligible retail customer at major U.S. brokerage platforms received at least one share in SpaceX’s landmark $86.2 billion initial public offering.
Robinhood Markets Inc. (NASDAQ: HOOD), Charles Schwab Corp. (NYSE: SCHW), Fidelity Investments, SoFi Technologies Inc. (NASDAQ: SOFI), and Morgan Stanley’s E*TRADE all confirmed their eligible customers received allocations.
Representatives from each of the five firms confirmed the allocations, highlighting how the offering was deliberately structured to give individual investors meaningful access to the deal.
SpaceX allocated approximately 20% of its total IPO to retail investors globally, with overall demand for shares surpassing $100 billion according to people familiar with the matter.
The sheer scale of demand meant that many investors who sought larger positions ultimately received far fewer shares than they had hoped for.
Robinhood disclosed on its app that 855,424 of its customers requested shares at the IPO price through its IPO Access platform, with the firm filling every single one of those requests.
Robinhood did not disclose the extent to which individual customer allocations fell short of their requested amounts, though the company reported 27.7 million funded accounts as of the end of May.
SpaceX shares surged in pre-market trading on Tuesday, approaching 50% above the $135 IPO price, a move that could value the company at more than $2.7 trillion.
In South Korea, Mirae Asset Securities Co. failed to secure any allocation for its clients despite serving as an underwriter on the deal, a notable contrast to outcomes seen elsewhere in Asia.
Japanese investors purchased 16.3 million shares in aggregate for a combined $2.2 billion, representing one of the largest single-country retail participation figures outside the United States.
In the United Kingdom, retail buyers received approximately $364 million worth of shares after submitting orders totaling nearly $1 billion, reflecting heavily oversubscribed demand in that market.
Across Europe more broadly, just under $2.5 billion in retail demand translated to roughly $600 million in actual allocations, underscoring how competitive the distribution process was globally.
SpaceX’s formal legal name, Space Exploration Technologies Corp., appeared in IPO prospectus documents listing Schwab, SoFi, Robinhood, Fidelity, and E*TRADE as authorized retail distribution partners for the historic offering.
