Active Capital Flows in M&A and IPO Markets Ahead of SpaceX Earnings

M&A/IPO | Thu Jul 23 2026 00:00:00 GMT+0000 (Coordinated Universal Time) | 9 sources

SpaceX's first earnings report and lockup expiration coincide with a continued global M&A boom and expansion of new IPO and secondary deals.

Analysis

[SpaceX] scheduled first quarterly earnings for August 4 with lockup expiring August 6 ^[4][7]

• Quarterly earnings for the period ending June 30
• First day for early-release shares to be sold on August 6 following IPO
• Down 11.2% from IPO price and 47% from peak

[SpaceX] saw short interest expand to 32% of free float ^[4]

• Approximately 206 million shares sold short
• Elon Musk warned short sellers
• Based on S3 Partners data

[Goldman Sachs] launched a new alternative investments platform targeting wealthy clients

• Alternative investments platform launched
• Two new teams for direct private company investments and secondary advisory
• Focus on late-stage companies such as SpaceX
• Stripe
• and Canva
• Expanding into AI infrastructure and data center investments []

[Goldman Sachs Research] projected continued M&A boom and identified new acquisition candidates

• Assessed additional room for M&A cycle expansion
• Identified new acquisition target names []

[Clipway] raised a record $6.4 billion for its debut secondary fund

• Firm founded by Ardian alumni
• Largest debut secondary fund ever []

[Axiom Biosciences] planned Hong Kong primary listing followed by U.S. secondary listing in 2029

• San Diego-based regenerative and gene therapy developer
• Hong Kong IPO planned for 2027
• Hang Seng Biotech Index up more than 75% from January 2025 low
• Beneficiary of Hong Kong IPO process streamlining reforms []

[Vitamin Well] raised $2.2 billion via cross-currency loan

• Financing for acquisition of protein bar maker EMPWR Nutrition Group
• Cross-currency loan deal []

[La Casa de Toño] pursued sale that could exceed $400 million

• Mexican family-owned pozole restaurant chain
• Aims to establish foundation for business expansion through sale []

Sources

• [1] Mexico City’s Casa de Toño Restaurant Chain Explores Sale, Eyes Growth - Bloomberg Markets
• [2] Vitamin Well Raises $2.2 Billion From Cross-Currency Loan Deal - Bloomberg Markets
• [3] Ardian alumni's Clipway breaks debut secondaries record at $6.4B - Yahoo Finance
• [4] SpaceX Earnings Are Coming Aug. 4. Here's Why Aug. 6 Could Prove to Be the Real Stress Test With SPCX Down 47% From Its High. - The Motley Fool
• [5] Wall Street can wait: Why one U.S. biotech firm is listing in Hong Kong first - CNBC World Markets
• [6] Goldman says the M&A boom has room to run, flags new takeover candidates - CNBC Investing
• [7] Bets against SpaceX grow to 32% of float as Elon Musk warns short sellers won't survive - CNBC Investing
• [8] Goldman Sachs creates private markets platform as rich investors seek the next SpaceX and Stripe - CNBC Finance
• [9] Bets against SpaceX grow to 32% of float as Elon Musk warns short sellers won't survive - CNBC Finance