Overview
- Bitget launched its IPO Prime platform on Friday, debuting preSPAX as a token that tracks SpaceX’s price after a future IPO.
- The subscription window runs April 18 to April 21, with token distribution after the sale closes and OTC trading starting on April 21.
- Offering terms list 94,000 tokens at $650 each, which implies a $1.5 trillion reference valuation even as outside reports discuss higher IPO targets.
- The issuer says the token mirrors economic outcomes only, grants no ownership or voting rights, and is not endorsed by SpaceX.
- Settlement relies on an underlying debt asset and the end of a post-IPO lockup, with payouts in tokens or USDT based on SpaceX’s market price at that time.