SpaceX is targeting a $1.77 trillion valuation in what would be the largest initial public offering in history. The company filed to raise approximately $75 billion. It plans to sell 555.6 million shares at a price of $135 each. Trading is expected to begin on the Nasdaq under the ticker SPCX as early as June 12.
The offering uses an all-primary issuance structure. All proceeds will go directly to the company to fund expansion. SpaceX will use the capital to build infrastructure for its artificial intelligence and rocket divisions. Funds will also enhance the Starlink satellite network.
Goldman Sachs and Morgan Stanley are leading the deal. JPMorgan is also acting as a book-runner.