SpaceX is looking to offer 555.6 million shares to investors at a fixed price of $135 apiece, looking to raise $75 billion, in what will become the biggest IPO in history till date.
When Will SpaceX List?
According to the report, banks leading the offer by Elon Musk’s company, are expected to stop taking orders from institutional investors from 4 PM on Wednesday after markets close.
Retail investors can still submit orders for shares of SpaceX on some platforms beyond the Wednesday deadline. As much as 30% of the total shares on offer are allocated to retail investors, as per the report.
SpaceX will then price the IPO on Thursday, June 11, and trading will begin on the following day, that is Friday, June 12.
The Biggest IPO In History
SpaceX will easily topple Saudi Aramco’s $29.4 billion public debut back in 2019. The company will hold the record for now before rival Anthropic discloses its own pricing and valuation for the IPO.
As early as Tuesday, OpenAI, the ChatGPT maker filed its IPO papers with the US SEC through the confidential route. The company recently raised $122 billion from investors, at a valuation of over $850 billion.
SpaceX too, disclosed new revenue sources recently, announcing a deal with Google-parent Alphabet. As per the deal, Alphabet will pay SpaceX $920 million a month as part of a cloud services agreement to run through 2029. It had earlier disclosed a similar pact with Anthropic as well.
What Will Be The Symbol and Ticker For SpaceX?
The company, which is formally known as Space Exploration Technologies Corp. will begin trading on the Nasdaq and on the Nasdaq Texas index, and under the ticker of SPCX.
