economy
SpaceX Officially Prices Shares at $135 in the Largest IPO Ever
With its official share pricing announcement, SpaceX's IPO has begun.
TL;DR
- SpaceX has raised $75 billion from the sale of its shares to underwriters.
- The company priced 555.6 million shares at $135 each.
- This marks the largest IPO in history, exceeding Saudi Aramco's $24.9 billion.
- SpaceX will trade on the Nasdaq under the ticker SPCX.
- Elon Musk is projected to become the world's first trillionaire at this valuation.
- There is potential for an additional $11 billion to be raised if an option for more shares is exercised.
- Market participants anticipate a potential 20% IPO pop on the first day of trading.
- Long-term justification for the company's valuation depends on its engineering projects, including a reusable rocket and a new chip fab.