NEW YORK — Anticipation is building among investors for SpaceX's upcoming initial public offering, which is set to be one of the largest in history as the rocket and satellite company prepares for its market debut later this week.
SpaceX, formally Space Exploration Technologies Corp., plans to offer shares at $135 each, aiming to raise approximately $75 billion and achieve a valuation of about $1.77 trillion, according to company filings and sources familiar with the matter. The offering, under the ticker symbol SPCX on the Nasdaq, is expected to begin trading as early as June 12.
The IPO has drawn significant interest, with reports indicating the deal is oversubscribed and demand from institutional investors exceeding $10 billion. Elon Musk, SpaceX's founder and chief executive, who also leads Tesla, stands to see his stake push him closer to trillionaire status upon listing.
SpaceX has revolutionized the space industry with reusable rockets and its Starlink satellite internet service, which serves millions of users worldwide. The company reported strong revenue growth in recent years while pursuing ambitious projects, including Starship development and potential data centers in space.
"SpaceX's IPO represents a major milestone for the commercial space sector," an analyst at a major investment firm said in a client note. "Investor enthusiasm reflects confidence in its technology and market position."
The roadshow for the offering wrapped up recently after the company set a fixed price rather than a traditional range. Underwriters include Goldman Sachs and others. A substantial portion of shares, potentially up to 30%, has been allocated for retail investors through platforms like Fidelity, Charles Schwab and Robinhood.
SpaceX confidentially filed with the U.S. Securities and Exchange Commission in April before making its prospectus public in May. The timing comes amid broader market interest in high-growth technology and space-related companies.
Some market observers have noted high valuations in the sector, with questions about long-term profitability given the capital-intensive nature of space operations. Others highlight SpaceX's contracts with government agencies and its leadership in launches.
As of Tuesday, final preparations for the debut continued. No major changes to the pricing or timeline were announced. Trading activity in related stocks has reflected broader sector sentiment ahead of the event.
The listing would mark a significant shift for SpaceX, which has remained privately held while conducting periodic share sales for employees and investors. Details on post-IPO lockup periods and exact share allocation remained subject to final regulatory steps.
