Gate Launches First Pre-IPO Project SpaceX Token, Raising Nearly $395 Million

The exchange said its SpaceX (SPCX) pre-IPO offering drew nearly $395 million, with a $590 subscription price, a $600.99 pre-market quote, and about 2.90% APY for GUSD pool staking.

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Summary

Gate said its first pre-IPO project tied to SpaceX, identified as SPCX, raised nearly $395 million. According to the official announcement, the IPO subscription price was $590 and the pre-market quote reached $600.99. The exchange also stated that users staking in the GUSD pool can receive about 2.90% APY. The announcement confirms the fundraising amount, pricing, and staking yield disclosed by Gate.

Terms & Concepts
  • Pre-IPO: An investment structure linked to a company before a public listing, used to give participants early price exposure.
  • Staking: Locking assets in a platform or protocol to earn rewards or yield over time.
  • APY: Annual percentage yield, a yearly return metric that reflects the rate users may earn on deposited or staked assets.