Elon Musk's SpaceX is taking a distinctive approach for its upcoming IPO by setting a fixed price of $135 per share, rather than the typical price range. This decision follows extensive 'testing-the-waters' meetings to assess investor interest. The company plans to offer 555.6 million shares, leading to an anticipated offering size of $75 billion.
If successful, this would value SpaceX at $1.75 trillion, surpassing Tesla's market cap of approximately $1.6 trillion. The IPO is scheduled for June 12, and SpaceX will trade under the ticker symbol SPCX. This offering is poised to be the largest IPO ever, exceeding Alibaba's previous record.
Additionally, SpaceX's recent filings with the SEC revealed significant losses and highlighted Musk's substantial ownership stake, along with plans to reserve up to 5% of shares for certain employees and individuals in a direct share program