Overview
- SpaceX set a fixed price of $135 for 555.6 million Class A shares to raise roughly $75 billion and plans to list on Nasdaq as SPCX with trading expected around June 12, 2026.
- Underwriters value the company near $1.75–1.8 trillion but independent analysts put fair value far lower, with Aswath Damodaran near $1.22 trillion and Morningstar near $780 billion.
- The prospectus shows consolidated 2025 revenue of about $18.7 billion, large GAAP losses from AI and Starship spending, and Starlink as the only consistently profitable segment.
- The deal reserves up to about 30% of shares for retail investors, many brokerages relaxed eligibility rules, and Elon Musk will retain more than 82% of voting power through super‑voting shares.
- Market strategists warn the tiny immediate public float and Nasdaq fast‑entry mechanics could force rapid passive and retail buying, push other investors to sell roughly tens of billions to fund purchases, and create heightened short‑term price discovery risk as lockups roll off.