SpaceX to release results on website, X only, bypassing wire services

June 15 (Reuters) - SpaceX ‌will release ​quarterly ​and annual financial results, besides other material news, only through its website ‌and social media account on X and ⁠not through wire distribution services, it said in a ‌filing on Monday.

The move ‌marks a departure from standard corporate communication practices, which typically involve newswire services like Business ​Wire or PR Newswire to reach a broad audience of investors and media outlets.

SpaceX ⁠said it "encourages members of the investment community, the media, and others ​to follow" its investor relations page on its website and its X account ​to review the information ‌disclosed through those channels.

Shares of the company closed around 19% higher on ⁠Monday. They were up about 2% in extended trading.

Earlier in the day, the company said its underwriters ⁠had exercised the "greenshoe" option to purchase additional shares, increasing ​the total proceeds from its initial public offering to $85.7 billion.

Elon Musk's rocket, AI and internet conglomerate had raised ‌a record $75 billion through the sale of 555.56 million shares at $135 apiece, ‌becoming the largest IPO in history even before ⁠the greenshoe option ‌was exercised.

(Reporting by ​Sriparna Roy and Jaspreet Singh in Bengaluru; Editing by Anil D'Silva and Leroy ‌Leo)

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