Ackman抛出SpaceX上市新方案：不走传统IPO 没有承销费 特斯拉(TSLA.US)股东可先上车

Core Viewpoint - Billionaire Bill Ackman proposes a novel structure through a Special Purpose Acquisition Rights tool (SPARC) to take SpaceX public, bypassing traditional IPO processes and granting Tesla shareholders priority investment rights [1] Group 1: SPARC Structure - Ackman's proposal allocates 0.5 SPARs per Tesla share, totaling approximately 1.723 billion SPARs, which can be converted into 34.46 billion shares of SpaceX [2] - The structure eliminates underwriting fees, founder shares, and shareholder warrants while maintaining a 100% common stock capital structure [3][4] Group 2: Financing Scale - The proposed financing could reach up to $148.7 billion, with an exercise price of $11.03 per SPAR raising about $42 billion, and if the price increases to $42, total proceeds could rise to approximately $1.487 trillion [5] - This financing scale aligns with market expectations for SpaceX, which is reportedly preparing for a potential IPO valued at up to $1.5 trillion, significantly exceeding competitors like Boeing and Lockheed Martin [5]