SpaceX targets fixed $135 IPO price for roadshow
June 3, 2026
Elon Musk’s SpaceX set a fixed price of $135 per share ahead of officially marketing its initial public offering, according to a filing with the Securities and Exchange Commission on Wednesday.
Offering terms
- SpaceX plans to sell 555.6 million shares at 75 billion fundraise before expenses.
- Underwriters have a 30-day option to purchase an additional 83.33 million shares ($11.2 billion).
- Valuation at 1.77 trillion (assuming EchoStar spectrum and Cursor transactions close).
- Ticker: SPCX on Nasdaq Global Select Market; planned debut June 12, 2026.
- Roadshow commenced June 4, 2026.
Goldman Sachs is lead banker; Morgan Stanley, Bank of America, Citigroup, and JPMorgan Chase are among book-runners.
Unusual pricing approach
Typically issuers offer a price range to gauge demand. SpaceX skipped the range after “testing the waters” meetings, going straight to a fixed $135 price.
At 1.6 trillion). The IPO would be the largest ever, more than triple Alibaba’s record U.S. IPO.
Shares sold represent less than 5% of outstanding SpaceX stock. Musk retains over 82% voting control via Class B shares with 10× voting power. Musk must hold shares 366 days post-IPO per sources.
Financial disclosures
Updated SEC filing (June 3) shows SpaceX’s xAI unit purchased 430 million in megapack sales to xAI in 2024.
Musk merged SpaceX with xAI in February in a deal valuing the combined entity at 2.56 billion at the IPO price.
“We have historically collaborated with Tesla through commercial, licensing, and support agreements,” the filing states.
IPO cluster context
Anthropic confidentially filed its IPO prospectus June 1; OpenAI is preparing a confidential filing. SpaceX, Anthropic, and OpenAI could add more than $200 billion in new public market value in fall 2026.
Amended filing Monday showed SpaceX plans to reserve up to 5% of IPO stock for employees via a direct share program. Reports suggest Musk may eventually combine SpaceX with Tesla; the topic is discussed internally at Tesla.
Net proceeds estimated at 85.7 billion if underwriters exercise their option) — far surpassing Saudi Aramco’s $29.4 billion record IPO (2019).