SpaceX set a fixed IPO price of $135 per share, targeting a $1.77 trillion valuation and a June 12 Nasdaq debut — which would make it the largest IPO in U.S. history, more than triple the size of Alibaba's record offering.
SpaceX filed a fixed IPO price of $135 per share with the Securities and Exchange Commission on Wednesday, setting up what would be the largest initial public offering in U.S. history at a valuation of $1.77 trillion.
The company plans to sell 555.6 million shares, raising $75 billion in the offering. Underwriters hold an option to purchase an additional 83.33 million shares at the IPO price, which would add another $11.2 billion to the raise.
At the $135 per share price, SpaceX would rank as the seventh-largest company in the United States by market capitalization — surpassing Tesla, which carries a market cap of roughly $1.6 trillion. The $1.77 trillion valuation assumes the company's pending EchoStar spectrum and Cursor transactions close as planned.
Goldman Sachs is serving as lead underwriter for the offering, followed by Morgan Stanley, Bank of America, Citigroup, and JPMorgan Chase.
The approach SpaceX took to pricing is notable. Rather than offering a price range — the conventional method that lets issuers and advisers test demand sensitivity at varying levels — the company chose a single fixed price following a series of testing-the-waters meetings ahead of the formal roadshow.
Elon Musk will retain over 82% voting control of the company after the offering closes, according to the filing.
SpaceX plans to list on the Nasdaq under the ticker symbol SPCX on June 12.
The offering would dwarf the previous record holder, Alibaba, whose IPO remains the largest in U.S. history. By comparison, SpaceX's raise would be more than triple that size.
The debut arrives as the broader IPO pipeline for high-profile technology companies builds momentum. Anthropic filed its IPO prospectus confidentially with the SEC on Monday, getting ahead of rival OpenAI, which is preparing to file its own confidential prospectus in the coming weeks.
SpaceX submitted its initial prospectus to the SEC late last month, disclosing billions in losses alongside Musk's substantial ownership stake. An amended filing earlier this week revealed that SpaceX plans to reserve up to 5% of IPO shares for purchase by certain employees and designated individuals through a direct share program.
Speculation has also intensified around a longer-term combination between SpaceX and Tesla. Musk has discussed the possibility of folding the two companies together with colleagues, and a current Tesla employee told reporters that the topic is openly discussed within the company. Tesla and SpaceX have spent years sharing personnel and resources.
Jay Goldberg is a staff writer at TechEchelon covering technology, markets, and policy. He files the breaking news and deal coverage that move the publication's core desks.
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