SpaceX has made history with the world’s largest initial public offering (IPO), raising $75 billion in a landmark stock market debut that values Elon Musk’s space and satellite company at approximately $1.8 trillion.
The company priced 555.6 million Class A shares at $135 each ahead of its June 12 debut on the Nasdaq Global Select Market and Nasdaq Texas under the ticker symbol, SPCX, surpassing every previous IPO in terms of capital raised.
The offering marks a moment for the commercial space industry by opening one of the world’s most closely watched private companies to public investors after more than two decades of remaining privately held.
Investor appetite proved strong, with reports indicating demand exceeded $250 billion, which is approxately more than three times the size of the offering as institutional investors rushed to secure allocations.
SpaceX subsequently increased the size of the deal after underwriters exercised their full overallotment
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