SpaceX just broke every IPO record in the book. The aerospace giant priced its offering at $135 per share on June 11, raising $75 billion by selling roughly 555.6 million shares. That makes it the largest initial public offering ever, and it’s not even close.
The company’s valuation at that price sits around $1.77 trillion, with some estimates placing the fully diluted figure near $1.8 trillion. Trading begins on the Nasdaq under the ticker SPCX on June 13. For context, that valuation puts SpaceX in the same neighborhood as the most valuable public companies on earth, before it has even traded a single share on the open market.
Demand that defied gravity
The appetite for SpaceX shares was, to put it mildly, enormous. The IPO was oversubscribed by approximately four times, meaning investors collectively wanted to buy far more shares than were available. Retail orders alone reportedly surpassed $100 billion.
On the institutional side, BlackRock placed orders of at least $5 billion for IPO shares.
