For once, SpaceX is ahead of schedule: Elon Musk’s space and artificial intelligence conglomerate officially confirmed on Friday that it has raised $75 billion in stock from the sale of its stock to its underwriters, which is set to begin trading on the Nasdaq stock exchange.
SpaceX valued its 555.6 million shares at $135 each update on their website. That makes SpaceX officially the largest IPO in history, easily surpassing the $24.9 billion Saudi Aramco raised during its public markets debut in 2019. At that price, the deal also looks set to make Musk the world’s first trillionaire.
Officially Space Exploration Technologies Corp. The company, known as SPCX, will trade under the ticker symbol SPCX.
As active trading begins tomorrow, SpaceX’s stock price may fall or rise. But anecdotal reports suggest that large institutional investors and individual buyers are lining up to buy shares of the 24-year-old technology company.
If the sale is oversubscribed, as the talkative bankers indicated, they have the option to issue an additional 83.3 million shares to the market, which would raise another $11 billion from the company’s opening price.
Hyperliquid, a crypto betting market that seeks to offer synthetic exposure to SpaceX stock, prices at the moment shares are priced at $167, indicating that market participants are expecting a classic 20% IPO on the first day of trading.
In the long term, there are big open questions about how SpaceX can justify its eye-watering valuation. of the company outstanding engineering projectsFrom the world’s largest reusable rocket to the new American chip fab, complete the daunting to-do list.
This story is developing…
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