TLDR
- SpaceX plans to sell about 555.6 million shares at $135 each, creating an offering size near $75 billion.
- The proposed IPO valuation is about $1.75 trillion to $1.77 trillion if EchoStar and Cursor deals close.
- SpaceX is expected to debut on Nasdaq on June 12 under the ticker SPCX, with Goldman Sachs leading the offering.
- Underwriters can buy an extra 83.33 million shares, which could add about $11.2 billion to the IPO transaction.
- Elon Musk is expected to retain more than 82% voting control after the offering, according to the filing.
SpaceX is preparing to market its initial public offering at a fixed price of $135 per share, setting up what could become the largest public listing on record. The company plans to sell about 555.6 million shares, creating an offering size of roughly $75 billion.
At the proposed price, SpaceX would carry a valuation of about $1.75 trillion to $1.77 trillion, assuming pending EchoStar spectrum and Cursor transactions close. That valuation would place Elon Musk’s rocket and satellite company above Tesla, which has been valued near $1.6 trillion, and would make SpaceX the seventh-largest company in the United States by market capitalization.
SpaceX has just officially announced that it plans to raise $74.4 billion in its IPO, targeting a $135 per-share price and selling approximately 555.55 million shares, according to a new SEC filing.
That would give @SpaceX a target IPO valuation of about $1.75 trillion.… pic.twitter.com/9F2HtzTJIe
— Sawyer Merritt (@SawyerMerritt) June 3, 2026
SpaceX is expected to debut on Nasdaq on June 12 under the ticker SPCX. Goldman Sachs is leading the offering, followed by Morgan Stanley, Bank of America, Citigroup and JPMorgan Chase.
SpaceX Sets Fixed IPO Price
SpaceX is taking an unusual route by using a fixed IPO price before the official roadshow. Companies preparing public listings normally offer investors a price range before setting a final number. SpaceX has instead moved forward with a fixed $135 price after early investor meetings.
The filing says SpaceX expects to receive about $74.4 billion in net proceeds from the offering after underwriting discounts, commissions and estimated expenses. If underwriters fully exercise their option to purchase additional shares, net proceeds could rise to about $85.7 billion.
The underwriters have an option to buy an additional 83.33 million shares at the IPO price. That option would add about $11.2 billion to the transaction if fully used.
The IPO would be more than three times the size of Alibaba’s U.S. listing, which remains the largest U.S. IPO on record. SpaceX’s offering also arrives as other large technology companies, including Anthropic and OpenAI, move closer to public market debuts.
Musk Voting Control and Share Program
Elon Musk will retain more than 82% voting control after the offering, according to the filing. That structure would allow him to keep control over company decisions even as SpaceX becomes a public company.
SpaceX also plans to reserve up to 5% of IPO shares for certain employees and other eligible people through a direct share program. Such programs allow selected participants to buy shares at the IPO price before public trading begins.
The filing also showed connections across Musk’s companies. SpaceX said its xAI unit purchased $269 million worth of Tesla Megapacks in April. Tesla had previously disclosed $430 million in sales of its large backup batteries to xAI last year.
Musk combined SpaceX with xAI in February in a transaction that valued the combined entity at $1.25 trillion. Tesla also owns 18.99 million SpaceX shares, valued at about $2.56 billion at the proposed IPO price.
SpaceX said it has historically worked with Tesla through commercial, licensing and support agreements. The companies have also shared resources and personnel over several years.
SpaceX Valuation Tops Tesla
The proposed $1.75 trillion valuation would place SpaceX above Tesla and near the top tier of U.S. public companies. The valuation reflects investor interest in launch services, satellites, Starlink connectivity, defense contracts, space infrastructure and artificial intelligence-linked business activity through xAI.
The company’s prospectus also showed large losses, giving investors a clearer view of its financial profile before listing. The final market response will depend on investor demand during the roadshow, broader equity conditions and appetite for large technology listings.
Speculation has also grown over whether Musk may eventually combine SpaceX with Tesla. The idea has reportedly been discussed among colleagues and inside Tesla, though no transaction has been announced.
Be the first to comment