SpaceX Sets $135 IPO Price Ahead of Roadshow

SpaceX publicly set a $135 share price for its initial public offering on Wednesday, targeting a $75 billion raise that would value the company at $1.75 trillion. The filing marks the first time a major U.S. company has published a firm IPO price a full week before its roadshow begins.

The company will start investor meetings on Thursday, with final pricing scheduled for June 11 and first trading on Nasdaq the next day.

The planned raise would be the largest ever for an initial public offering. At the proposed valuation the company would rank among the ten largest U.S.-listed firms by market value. SpaceX reported a net loss of $4.94 billion for 2025 even as revenue rose 33 percent to $18.67 billion. Analysts noted the implied revenue multiple exceeds 90 times, well above typical public-market benchmarks.

SpaceX has structured the offering to give retail investors a larger allocation than is customary and to seek early inclusion in major stock indexes. Governance provisions are also designed to maintain founder control after the listing. Major banks including Mizuho, Deutsche Bank, UBS, and Barclays have been asked to focus on wealthy individual buyers in their home markets rather than solely on large institutions.

Some investors described the process as unusually centralized, with one banker telling a prospective buyer that allotment decisions were at the level of Goldman Sachs CEO David Solomon. Robert Pavlik, senior portfolio manager at Dakota Wealth, said he would not buy shares, calling the offering interesting mainly for the attention surrounding the company’s founder.