SpaceX Plans $75 Billion IPO With $135 Share Price On Nasdaq Under Ticker SPCX

SpaceX, Elon Musk’s rocket and satellite company, is preparing to go public this week with a plan to raise $75 billion at a valuation of $1.8 trillion, with the share price set at $135 and trading on Nasdaq expected on Friday under the ticker SPCX.

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Boursorama

Bloomberg, as relayed by Reuters, said SpaceX could file a confidential IPO request as early as March and that an IPO was probable in June, while the company’s Starbase generated about 8 billion dollars of benefits on a revenue of 15 to 16 billion dollars last year, mainly from Starlink.

Boursorama

CNBC said SpaceX is offering a take-it-or-leave-it price of $135 rather than providing a range, and that the company said $135 is the share price and $1.77 trillion is the anticipated market cap.

CNBC also reported that SpaceX plans to stop taking orders on Wednesday, a day early, to allow the company and underwriters to map out allocations for the record-breaking IPO before trading begins on Friday.

The Times of India said SpaceX has publicly indicated a share price of $135 and is expected to formally price the offering on June 11, with trading expected to begin on Nasdaq on June 12 under the ticker symbol "SPCX".

As SpaceX’s IPO mechanics come into focus, CNBC said the company wants retail investors to receive roughly 30% of the shares being sold, which would amount to about $22.5 billion, and that Fidelity said the retail slice of IPOs is usually between 5% and 10%.

New York Post reported that SpaceX has set aside about 30% of the shares being sold in its IPO for retail investors, or about $22.5 billion, and that Morningstar analysts Nicolas Owens and Suryansh Sharma said the company “has been significantly overvalued.”

CNBC

CNBC quoted Lise Buyer, founder of IPO consultancy Class V Group, saying, "Elon has dictated the price, and, assuming investors go for it, you can check that box," while adding that someone still has to determine where the shares are going.

The New Yorker said SpaceX is expected to issue stock to investors in what is shaping up to be the biggest initial public offering ever, with the company saying it will issue 555,555,555 shares at a price of $135.

In a June 3 note to clients, Wedbush analyst Dan Ives said, "This listing represents the first major test for public markets after years of muted IPO activity," as the IPO is set to go just ahead of OpenAI and Anthropic.

Beyond the headline valuation, Reuters via Boursorama said SpaceX could seek a valuation of more than 1 750 milliards de dollars, while New York Post said SpaceX disclosed $4.9 billion in losses last year on revenue of $18.7 billion.

“Elon Musk’s rocket company SpaceX is set to go public this week targeting a $1”

Democracy Now!

The New Yorker framed the valuation debate around the company’s plan to issue 555,555,555 shares at $135, valuing it at about $1.75 trillion, and it quoted Morningstar’s view that investors will have opportunities to buy the stock at more attractive levels after the IPO.

Democracy Now! highlighted a report by Eric Gardner for More Perfect Union, describing how Musk convinced Nasdaq to forgo the usual waiting period to include SpaceX in its index fund, potentially exposing retirement savers to an overinflated stock price.

In that same segment, Gardner said, "He has essentially financially engineered the IPO as a massive wealth transfer from everyday investors to insiders," while George Pearkes warned that the evidence suggests the IPO is being engineered to rise very rapidly after it prices and then fall very dramatically after that.

The stakes for investors are also tied to how the IPO is structured for passive funds, with Democracy Now! describing how index funds pick stocks through an index, and it quoted Robin Wigglesworth calling it a “bag-holder situation” in the context of the IPO’s engineering.