SpaceX has set a share price of $135 for its initial public offering, positioning the company for what would be the largest IPO in history. The pricing values Elon Musk's rocket manufacturer at $1.75 trillion and is expected to exceed the record set by Saudi Aramco's 2019 public debut in both total valuation and capital raised.
The company set its target price for buyers earlier than market observers anticipated. The $135 per share pricing represents the baseline for what is expected to be a $75 billion capital raise, according to some projections. The valuation marks a significant milestone for the private space exploration company as it transitions to public ownership.
However, the path to the IPO has shown signs of uncertainty. The company has lowered its target valuation multiple times in recent weeks, raising questions about market conditions and investor appetite for the offering. Market analysts have pointed to these repeated downward adjustments as a potential warning signal for broader stock market sentiment.
SpaceX has cited substantial capital needs as a driver for the public offering. The company's operations span rocket manufacturing, satellite deployment, and space exploration initiatives, all of which require ongoing investment. The decision to go public comes as the company scales its Starship program and expands its Starlink satellite internet service.
The IPO is scheduled to proceed in the coming weeks, pending final regulatory approval. If completed at the announced price, the offering would dwarf previous records and test investor demand for high-valuation technology companies. The Saudi Aramco offering raised approximately $29.4 billion in 2019, making it the previous record holder for largest IPO by capital raised.