SpaceX priced its long-awaited initial public offering at $135 per share, valuing the rocket and satellite company at roughly $1.75 trillion after the stock starts trading next week. The $75 billion IPO will hit the Nasdaq on June 12 under the ticker SPCX, with shares opening at 9:30 a.m. EDT.
The pricing comes as the company prepares to bring its Starlink satellite internet business and Starship rocket program to public markets. Wednesday's price, set on June 11, positions SpaceX as one of the largest companies to ever list on a U.S. exchange.
What the IPO Means for Retail Investors
Everyday investors hoping to buy in at the opening price may find themselves at the back of the line. Allocation challenges are significant for retail buyers, who typically get only a small slice of high-demand IPOs. Large institutional investors and the company's existing backers are expected to absorb most of the shares before they hit public markets.
The $135 price tag itself isn't eye-popping by tech IPO standards — but the total valuation is. A $1.75 trillion market cap would put SpaceX among the top few companies in the world by market value, close to Amazon and Alphabet.
Why the Market Cap Is So High
Investors are betting that SpaceX's two core businesses — launching payloads for governments and commercial clients, and its growing Starlink broadband network — will generate massive revenue growth. Starlink now has more than 2 million active subscribers, and the company projects billions in annual revenue from that service. Starship, the fully reusable heavy-lift rocket, has completed several test flights and could open new opportunities in deep-space cargo and human transport.
The $1.75 trillion valuation reflects that optimism, but also carries risk. SpaceX has not disclosed detailed financials in the same way public companies do, and the space industry is notoriously capital-intensive. Competitors like Blue Origin and United Launch Alliance are also vying for government contracts.
Trading Details and What Happens Next
Shares will trade under SPCX starting June 12. The first trade price often differs from the IPO price, sometimes jumping on high demand or slipping if the market cools. No lock-up period details were immediately available, but typical lock-ups last 90 to 180 days, meaning early investors and employees won't be able to sell their shares right away.
The offering underwriters — led by several major investment banks — have the option to buy additional shares at the IPO price to cover overallotments, a common practice known as the greenshoe. That could increase the total size of the offering slightly.
For now, retail investors will have to wait and see how many shares their brokerage accounts secure. The allocation process is opaque, and many will likely end up buying shares on the open market at whatever price the first trade establishes.
