SpaceX IPO Prices at $135, Raising Record $75 Billion on June 12

SpaceX priced its IPO at $135 per share on June 11, 2026, raising $75 billion at a $1.78 trillion valuation. The offering is the largest in history, surpassing Saudi Aramco’s $29.4 billion debut in 2019. Trading begins on Nasdaq on June 12 under ticker SPCX. Demand reached $250 billion, making the deal nearly 4 times oversubscribed. Retail investors placed over $70 billion in orders, with up to 30% of shares allocated to individual buyers.

Record-Breaking Pricing and Demand

SpaceX set a fixed IPO price of $135 per share, departing from the typical range-based pricing used in most offerings. The company will sell 555.6 million shares, raising $75 billion. Underwriters hold a greenshoe option to sell an additional 83 million shares worth $11.2 billion if demand permits. Total investor demand reached $250 billion, nearly 4 times the offering size. Retail investors submitted orders exceeding $70 billion, far above the typical 5% to 10% allocation in large IPOs. BlackRock alone ordered $5 billion in shares.

Retail Investor Access and Allocation

SpaceX targets allocating roughly 30% of shares to retail investors, an unusually high percentage for a mega-cap IPO. Individual investors can purchase shares through Charles Schwab, Fidelity, Robinhood, SoFi, and E-Trade. Fidelity lowered its minimum account balance for IPO access from $100,000 to $2,000 to accommodate demand. Robinhood, SoFi, and E-Trade have no stated minimum balance requirement. The company stopped taking orders on Wednesday, one day earlier than typical, allowing underwriters to allocate shares by Thursday.

Valuation Concerns and Political Scrutiny

Analysts have questioned SpaceX’s $1.78 trillion valuation. Morningstar projected the company should trade at $63 per share, roughly half the IPO price. Investor Michael Burry stated the filing contains nothing to justify a $1 trillion valuation. Senator Elizabeth Warren sent a 12-page letter to the SEC requesting a delay, citing concerns about governance, investor protection, and the company’s concentrated voting structure. Musk controls 85% of shareholder voting power through supervoting shares and mandatory arbitration clauses.

Index Inclusion and Market Impact

Nasdaq changed its rules to allow SpaceX to enter the Nasdaq-100 index after just 15 trading days, bypassing the typical waiting period. The S&P 500 did not waive its standard requirements. Pension funds and index tracking vehicles raised concerns about forced buying pressure from passive funds. The London Stock Exchange and FTSE Russell faced requests to reconsider fast-entry rules, with $600 billion in combined pension assets expressing concern about market volatility.

Final Thoughts

SpaceX’s $75 billion IPO at $135 per share marks the largest offering ever, with Nasdaq trading set for June 12. Heavy retail demand and fast index inclusion rules create near-term trading volatility, though analyst valuations suggest limited upside from the IPO price.

FAQs

Disclaimer:

The content shared by Meyka AI PTY LTD is solely for research and informational purposes.  Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.