SpaceX officially prices shares at $135 in the largest IPO ever
TechCrunch • • business
Key Points:
- SpaceX has raised $75 billion from its initial public offering (IPO), pricing 555.6 million shares at $135 each, making it the largest IPO in history and surpassing Saudi Aramco's $24.9 billion debut.
- The company will trade on the Nasdaq under the ticker symbol SPCX, with shares set to begin trading Friday, and the IPO is expected to make Elon Musk the world’s first trillionaire.
- The IPO was highly oversubscribed, attracting four times the available shares, and there is an option to issue an additional 83.3 million shares, potentially raising another $11 billion.
- Major beneficiaries include Elon Musk, who holds a significant majority of voting shares, as well as key investors like Antonio Gracias, Luke Nosek, and COO Gwynne Shotwell, alongside hundreds of venture capitalists and smaller investors.
- Despite the record-breaking IPO, questions remain about how SpaceX will justify its high valuation given its ambitious engineering projects and long-term goals.