SpaceX has priced its shares at $135 each for what is set to be the largest initial public offering in history, seeking to raise $75 billion and achieving a valuation of approximately $1.77 trillion. The company plans to list on the Nasdaq on June 12.
IPO Details
- Share Price: $135 per share (fixed price, bypassing traditional bookbuilding)
- Shares Offered: Approximately 555.6 million shares
- Total Proceeds: $75 billion
- Valuation: $1.77 trillion
- Listing Date: June 12, on the Nasdaq under ticker symbol “SPCX”
- Lock-up Period: Founder Elon Musk’s shares will be locked for 366 days after listing
The offering is structured as all-primary, meaning all proceeds go directly to the company. Existing shareholders, including Musk, will not be able to sell shares in the IPO.
Financial Profile
The company generated $18.67 billion in revenue during 2025, but recorded a net loss of $4.94 billion. Among its three business divisions, only the Starlink satellite internet service has achieved profitability.
Morningstar analysts have valued the company at approximately $780 billion, about half the IPO target valuation, citing uncertainty around its AI ventures.
Investor Allocation
SpaceX has reportedly reserved up to 30% of the offering for retail investors, a significant departure from the typical 5-10% allocation in most IPOs. Major investment banks including Goldman Sachs, Morgan Stanley, Bank of America, Citi, and JPMorgan Chase are serving as underwriters.
Proceeds will fund expansion of AI computing infrastructure, upgrades to launch facilities, and growth of the Starlink satellite constellation.