Ackman urges SpaceX to go public with "SPARC" Tesla shareholders can get priority investment rights
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Billionaire Ackman suggests using Special Purpose Acquisition Rights (SPARs) to help SpaceX go public, which has been approved by the SEC. This structure will allocate Special Purpose Acquisition Rights (SPARs) to Tesla shareholders, allowing them to invest in SpaceX. If the exercise price is $11.03, SpaceX will raise approximately $42 billion; if raised to $42, the amount raised will increase to about $148.7 billion. Ackman stated that this plan is the fairest for Tesla shareholders, echoing Musk's statement that Tesla supporters should be able to invest in SpaceX
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