SpaceX to Go Public on Nasdaq in $75 Billion IPO Despite $4.9 Billion Annual Loss
SpaceX will list more than 550 million shares at $135 each, targeting a $1.75 trillion valuation. Elon Musk will keep more than 80 percent of voting power after the sale.
benzinga.comSpaceX will begin trading shares on the Nasdaq market on 12 June. The offering includes more than 550 million shares priced at $135 each and is expected to raise at least $75 billion. SpaceX is currently privately held.
After the sale, Elon Musk will retain more than 80 percent of voting power. SpaceX operates launch services, satellite communications, and the social media platform X. It also develops the AI system Grok.
9 billion. The prospectus states the firm has a history of net losses and may not achieve profitability. Proceeds are intended for asteroid mining, Mars colonization, and orbital AI data centers.
Individual investors can apply through certain platforms and brokers. Shares will be allocated based on demand before trading begins. Elon Musk wants retail investors to buy some $23 billion of SpaceX shares next week.
SpaceX is separate from Tesla, though reports indicate the two companies may merge next year. The IPO is the first of three planned AI-related listings this year. 75 trillion.
Space Exploration Technologies is the official name of SpaceX. SpaceX has pioneered reusable rockets. Musk plans to use the extra money from the IPO to fund mining asteroids, colonising Mars and putting AI data centres in space.
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