SpaceX is officially pricing shares at $135 in its largest initial public offering ever

For once, SpaceX is ahead of schedule: Elon Musk’s space and artificial intelligence conglomerate has officially confirmed that it has raised $75 billion from the sale of its stock to underwriters, which is set to begin marketing the company on the Nasdaq on Friday.

The company said in a statement that it priced its 555.6 million shares at $135 per share. Update on their website. This officially makes SpaceX the largest IPO in history, easily surpassing the $24.9 billion in funds raised by Saudi Aramco during its public market debut in 2019. At that price, the deal also looks set to make Musk the world’s first trillionaire.

The company, formally known as Space Exploration Technologies Corp, will trade under the ticker symbol SPCX.

As active trading begins tomorrow, SpaceX’s stock price could fall or rise. But anecdotal reports indicate that major institutional investors and retail buyers are lining up to buy shares in the 24-year-old technology company.

If the sale is as oversubscribed as the chatty bankers make it out to be, they have the option to bring an additional 83.3 million shares to market, which would raise another $11 billion at the company’s opening price.

Hyperliquid, a cryptocurrency betting market that attempts to provide synthetic exposure to SpaceX shares, Prices currently Shares are at $167, suggesting market participants are expecting the classic 20% IPO rally on the first day of trading.

Longer term, there are big open questions about how SpaceX will be able to justify its eye-popping valuation. Company Distinctive engineering projectsfrom the world’s largest reusable rocket to a new American chip maker, fill your daunting to-do list.

This story develops…