Space Exploration Technologies Corp. (SPCX) confirmed pricing of its initial public offering Thursday afternoon at $135.00 per share, generating roughly $75 billion in gross proceeds.
SpaceX shares are set to begin trading on Friday, with the offering of roughly 555 million shares expected to close June 15, 2026, subject to customary closing conditions.
Underwriters hold a 30-day over allotment option to buy up to 83 million additional shares at the IPO price. Full exercise would lift total gross proceeds to approximately $86.3 billion.
SpaceX will carry a valuation of roughly $1.8 trillion at the IPO price, making it the largest public offering in U.S. history.
Smaller Retail Allocation
Retail investors are getting a smaller slice than expected, CNBC reported Thursday, citing a person familiar with the matter.
SpaceX plans to direct a percentage in the low 20s of the offering to retail buyers, with earlier expectations pegging that figure closer to 30%.
The reduced retail cut signals fierce institutional demand. Investors have been competing aggressively for access to what many are calling the hottest IPO in recent years.
Even at a lower allocation, the retail tranche would still rank among the largest ever for a U.S. offering of this size. Allocation decisions are nearly finalized but could still change, the source told CNBC.
Goldman Sachs & Co. LLC and Morgan Stanley lead a marquee book-running syndicate. BofA Securities, Citigroup, J.P. Morgan, Barclays, Deutsche Bank Securities, RBC Capital Markets, UBS Investment Bank and Wells Fargo Securities complete the bracket.
