Musk's SpaceX Set to Make Biggest-Ever Initial Public Offering on Wall Street
Investors placed more than $150 billion in orders as the offering drew a sold-out institutional book and retail access at the same price.
- On Thursday, SpaceX priced its initial public offering at $135 per share, raising $75 billion and valuing the rocket and spacecraft manufacturer at $1.77 trillion.
- The offering breaks the previous record held by state-run oil giant Saudi Aramco, which raised $25.6 billion in December 2019, positioning SpaceX as one of the world's most valuable companies.
- Starlink serves as the financial backbone, generating $4.4 billion in operating income last year, while Starship research and xAI operations continue consuming significant capital.
- Unusually, SpaceX allocated up to 30% of shares to individual investors at the $135 price, bypassing traditional roadshows with a 'take it or leave it' approach.
- Analysts warn of potential volatility as markets digest the offering, with Renaissance Capital Senior Strategist Matt Kennedy noting the true test arrives in coming weeks.
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These days we have the opportunity to witness the making of history in the financial markets. Elon Musk's company, Space X, raised $75 billion in its Initial Public Offering (IPO).
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