SpaceX targets $135 IPO price at valuation of $1.77 trillion
The valuation would make Elon Musk's company the seventh-biggest in the U.S., above Tesla, which has a market cap of about $1.6 trillion.
TL;DR
- SpaceX sets a fixed IPO price of $135 per share.
- The company plans to raise $75 billion by selling 555.6 million shares.
- The IPO could value SpaceX at $1.77 trillion, making it the seventh-largest U.S. company.
- Elon Musk will retain over 82% voting control post-offering.
- Goldman Sachs is the lead underwriter for the offering.
- SpaceX will trade on the Nasdaq under the ticker symbol SPCX.
- The company's xAI unit purchased $269 million worth of Tesla megapacks.
- SpaceX's IPO is anticipated to be the largest U.S. IPO to date.
- There is speculation about Musk's ultimate goal to combine SpaceX and Tesla.