SpaceX Makes Historic IPO
SpaceX begins trading on Nasdaq, raising $75 billion in the largest IPO in history, valuing the company at $1.8 trillion.
Key points
- SpaceX, co-founded by Elon Musk in 2002, is set to trade under the ticker symbol 'SPCX' on the Nasdaq exchange.
- The company priced 555 million shares at $135 each, with a valuation of just under $1.8 trillion.
- The IPO will raise a record $75 billion, surpassing Saudi Aramco's $29.4 billion debut in 2019.
- Underwriters have an option to buy nearly 83 million additional shares, potentially pushing the total above $86 billion.
- The listing could impact global markets and is seen as a precursor to potential IPOs from other tech giants like OpenAI and Anthropic.
SpaceX, the space and rocket company co-founded by Elon Musk, is making its historic initial public offering (IPO) on the Nasdaq exchange. This move is set to raise a record $75 billion, making it the largest IPO in history. The company has priced over 555 million shares at $135 each, resulting in a valuation of just under $1.8 trillion. This valuation places SpaceX among the top 10 biggest companies on Wall Street, surpassing Musk's own Tesla and Facebook-owner Meta. The IPO is not only significant for SpaceX but also for the broader tech industry, as it may pave the way for other tech giants like OpenAI and Anthropic to go public. The reaction to this IPO will be closely watched, as it could have implications for global markets. With underwriters holding an option to buy nearly 83 million additional shares, the total raised could potentially exceed $86 billion if fully exercised.
Sources
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