NEW YORK — SpaceX made its long-awaited public market debut this week in what company filings and market data indicate was the largest initial public offering in history, raising about $75 billion and valuing the aerospace and satellite communications company at approximately $1.77 trillion at the offering price. Shares began trading on the Nasdaq on Friday under the ticker SPCX.
The company priced 555.56 million shares at $135 each, according to SpaceX and regulatory filings cited by Reuters and other financial news organizations. The offering surpassed the previous record for an IPO and immediately placed SpaceX among the most valuable publicly traded companies in the United States.
Investor demand appeared strong. Reports from financial media said the offering was oversubscribed, with institutional and retail investors seeking larger allocations than were available. Shares rose sharply during their first day of trading and closed above the IPO price, pushing the company’s market capitalization above $2 trillion during portions of the session, according to market reports.
SpaceX, formally known as Space Exploration Technologies Corp., is led by founder and chief executive Elon Musk. The company operates launch services, the Starlink satellite internet network and other space-related businesses. Proceeds from the offering are expected to support expansion plans, including investments in launch infrastructure and technology development, according to company disclosures and media reports.
In a statement accompanying the offering, the company said it was pursuing long-term growth opportunities in space transportation and communications. “We are building for decades ahead,” the company said in materials released during the IPO process.
The transaction drew attention across financial markets because of its size and because SpaceX adopted an unconventional pricing approach, publicly disclosing its intended share price ahead of the offering. Reuters reported that the move departed from traditional Wall Street practices used in most major IPOs.
Some market participants welcomed the debut as a sign of renewed investor appetite for large technology listings, while others questioned whether the valuation could be justified by current financial performance. Analysts and investors cited by financial media expressed differing views on the company’s prospects and governance structure.
As of Saturday, SpaceX shares remained above their IPO price following the first trading session, while the company had not announced any changes to the terms of the offering. Further trading activity and investor demand will continue to be closely watched in the coming days.
