SpaceX officially prices shares at $135 in the largest IPO ever
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For once, SpaceX is ahead of schedule: Elon Musk’s space and AI conglomerate officially confirmed that it has raised $75 billion from the sale of its shares to its underwriters, who are set to begin marketing the company on the Nasdaq stock exchange Friday.
Key facts
The listing will deliver Antonio Gracias, founder and CEO of Valor Management, 503.4 million shares, putting the value of his position at nearly $68 billion at the IPO price
That makes SpaceX officially the largest IPO in history, easily eclipsing the $24.9 billion in funds raised by Saudi Aramco during its 2019 public markets debut
SpaceX priced its 555.6 million shares at $135 each, the company said in an update on its website
Hyperliquid, a crypto betting market that attempts to offer synthetic exposure to SpaceX stock, currently prices the shares at $167, suggesting that market participants expect a classic 20% IPO pop
Summary
SpaceX priced its 555.6 million shares at $135 each, the company said in an update on its website. The company, officially known as Space Exploration Technologies Corp., will trade under the SPCX ticker symbol. While IPO pricing typically works itself out as markets open, SpaceX took an unusual approach in setting the price well in advance. As active trading gets underway tomorrow, SpaceX’s share price may sink or rise.