Overview
- SpaceX disclosed Wednesday that it will sell 555.6 million shares at $135 each to raise roughly $75 billion and target a valuation near $1.75–1.77 trillion.
- The SEC filing shows a dual‑class share structure that would leave Elon Musk with about 82% of voting power after the IPO.
- Lead banks agreed to unusually low underwriting fees reported below 0.75%, though bankers could still earn roughly $500 million in total commissions on the deal.
- Market reaction is split: strong demand driven by AI and space growth hopes sits alongside skepticism from analysts and at least one large institutional investor that said it will not take part.
- The company disclosed a $4.937 billion net loss on $18.674 billion of 2025 revenue and says proceeds will fund capital‑intensive space and AI projects, a dynamic that will test whether public markets can absorb several mega‑IPOs this year.