SpaceX is preparing to raise $75 billion by selling 555.6 million Class A shares at $135 each, a move that would value the company between $1.77 trillion and $1.8 trillion after the offering. The NASDAQ listing, set to trade under ticker SPCX, is expected around June 12, with the IPO roadshow already underway since June 4.
Here’s the thing: not everyone agrees the company is worth that much. Morningstar pegs SpaceX’s value at roughly $780 billion, which is 57% below the IPO’s target valuation.
The S-1 reveals a tangled web of Musk companies
SpaceX’s prospectus, filed with the SEC as an S-1, paints a picture of a company deeply intertwined with the rest of Elon Musk’s corporate empire. Tesla, Starlink, X (formerly Twitter), and other Musk ventures are all referenced as having significant operational and financial relationships with SpaceX.
The filing discloses $650 million in inter-company dealings among Musk’s various ventures over the past year.
