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SpaceX IPO Poised to Be Biggest Ever
9 Jun
Summary
- SpaceX IPO targets $75 billion with fixed share price.
- Retail investors allocated up to 30% of shares offered.
- Trading to commence on Nasdaq under ticker SPCX.
SpaceX, formally known as Space Exploration Technologies Corp., is gearing up for an IPO that promises to be the largest in history. The company aims to raise $75 billion by offering 555.6 million shares at a fixed price of $135 each. This valuation significantly surpasses Saudi Aramco's 2019 debut.
Institutional investors have shown immense interest, with orders reportedly reaching $10 billion or more. Banks managing the offering are expected to halt order taking for institutional investors on Wednesday, June 10. However, retail investors will have an extended opportunity to submit orders beyond this deadline, with up to 30% of the total shares allocated to them.
The IPO pricing is scheduled for Thursday, June 11, with trading set to commence on the Nasdaq on Friday, June 12, under the ticker SPCX. Recently, SpaceX announced a significant cloud services deal with Alphabet, parent of Google, valued at $920 million per month through 2029, further bolstering its financial disclosures.
