Elon Musk’s SpaceX has set a fixed price of $135 per share ahead of formal marketing for its initial public offering, according to a filing with the Securities and Exchange Commission on Wednesday.
SpaceX announced it would sell 555.6 million shares, equating to a $75 billion financing. The underwriters have the option to purchase an additional 83.33 million shares at the IPO price for a total value of $11.2 billion. After the company goes public, Musk will hold more than 82% of the voting rights, according to the filing.
goldman sachs is the lead banker for the offering, followed by Morgan Stanley, Bank of America, Citigroup and JPMorgan Chase.
Typically, at this stage of the process, new issuers offer price ranges that allow companies and their advisors to gauge demand sensitivity at various levels. In this case, SpaceX took a more unique approach after numerous test meetings leading up to the roadshow launch.
At a price of $135 per share, SpaceX would be worth $1.77 trillion. echo star The spectrum and cursor transaction ends. This valuation makes SpaceX the seventh-largest company in the U.S. by market capitalization, surpassing that number. teslaits value is approximately $1.6 trillion.
Musk’s company plans to list on the Nasdaq on June 12th.
In a filing updated Wednesday, SpaceX also noted that its xAI division purchased $269 million worth of Tesla MegaPack in April. Tesla previously revealed that it sold a massive $430 million worth of backup batteries to xAI last year.
Musk merged SpaceX and xAI in February, valuing the combined company at $1.25 trillion. Mr. Musk’s companies have many financial overlaps, including Tesla owning 18.99 million SpaceX shares worth $2.56 billion at its IPO price.
“We have previously worked with Tesla through commercial, license and support agreements,” the filing states.
SpaceX, which will go public under the ticker symbol SPCX, is set to be the largest IPO ever, more than three times the size of the company. alibabawhich is the largest U.S. IPO ever.
The long-awaited debut comes as AI companies Anthropic and OpenAI are competing to go public.
Anthropic secretly filed its IPO prospectus with the Securities and Exchange Commission on Monday, giving it a run for its money ahead of its major rivals. CNBC previously reported that OpenAI is preparing to file a confidential IPO prospectus in the coming weeks.
SpaceX filed a prospectus with the SEC late last month, disclosing billions of dollars in losses and Musk’s large ownership stake. The company filed an amended filing on Monday showing SpaceX plans to reserve up to 5% of its IPO shares for purchase by “certain employees and persons” in a direct stock program.
As SpaceX heads to the public market, rumors are circulating that Musk’s ultimate goal is to combine the company with Tesla, CNBC previously reported.
Musk has discussed the possibility of merging the companies with colleagues, and current Tesla employees told CNBC that the topic is openly discussed within the company. Tesla and SpaceX have also spent years pooling resources and sharing personnel.
—CNBC’s Lora Kolodny and Jordan Novet contributed reporting.
