TechFlow News, April 10: Bitget has officially launched its U.S. IPO subscription service—“IPO Prime”—marking its first foray into the primary market and extending Bitget’s ecosystem boundaries. Designed to break down traditional private investment barriers, IPO Prime offers global users a new channel to participate in the potential economic returns of unicorn companies prior to their public listing. The inaugural asset is preSPAX, a digital token issued by the regulated issuer Republic, engineered to mirror SpaceX’s post-IPO economic performance on a 1:1 basis. SpaceX (Space Exploration Technologies Corp.) was founded by Elon Musk in 2002.
Bitget’s IPO Prime operates on a subscription model: users receive subscription quotas based on their VIP tier. Upon completion of token allocation, users may trade preSPAX on an upcoming over-the-counter (OTC) market; alternatively, after the lock-up period for preSPAX’s underlying debt assets expires, the issuer will authorize Bitget to convert users’ tokens into either stock tokens or USDT, referencing the underlying company’s publicly traded stock price.
IPO Prime Details:
- Implied SpaceX Valuation: $1.5 trillion
- Total IPO Prime Subscriptions Available: 94,000
- Total Subscription Value: $61,100,000
- Subscription Price: $650 per preSPAX
- Accepted Payment Tokens: USDT or USDGO
- Total Subscription Pool Cap: $1,000,000,000
- Individual Subscription Range: $1,000–$300,000
- Subscription Period: April 18, 14:00:00 – April 21, 14:00:00 (UTC+8)
- Allocation Period: April 21, 14:00:00 – April 21, 18:00:00 (UTC+8)
- OTC Market Opening Time: April 21, 20:00:00 (UTC+8)
