SPCX 2.5× the current float becomes eligible for sale within 90 days The listed float is roughly 4.2% of the company's 13.11B total shares outstanding. 95% of the company's equity is tightly locked up by insiders, management, and early investors. The lockup is staggered rather than a single 180-day cliff. - First cliff: 20% of eligible shares can be sold after Q2 earnings are released (earnings calls will happen between mid-July and September); - Performance-based release: if the stock trades 30%+ higher than the IPO price during 5 of 10 consecutive trading days before the first earnings release date up to an additional 10% of shares can be sold early;(BloFin Research)