555.6 million shares at $135 apiece, at a $1.77 trillion valuation
This picture: SpaceX The company, which is on its way to becoming the largest public offering in history, aims to raise $75 billion when it goes public at the end of this month.
Under the amended law, the company will sell 555.6 million Class A shares at a fixed price of $135 each. expression He filed with the SEC on Wednesday. Combined with the company’s total outstanding shares, SpaceX’s price is roughly $1.77 trillion; enough to make it the seventh-largest company in the United States upon arrival. luck 500 list, Walloping Current No. 7 points Berkshire Hathawayand even CEO Elon Musk’s other lover, Tesla’sIt trades with a market cap of approximately $1.6 trillion.
The publicly listed company is no longer just a rocket manufacturer. The absorption of xAI by the entire stock in February made SpaceX a money making satellite internet and the AI conglomerate is allocating part of the revenues to the expansion of the Starlink network as well as AI computing. In the prospectus, Musk makes his goal very clear: to establish a colony of one million people on Mars. Rockets will be transported there, and artificial intelligence will organize the colony and at the same time figure out how to transport a million people to Mars.
How much of the $80 billion actually achieves this growth is another question: Luck reported, More than three-quarters of the proceeds have already been spoken for and committed to repaying and paying off debt held by investors Valor Equity Partners, X Corp and xAI. EchoStar For a spectrum purchase, AI Express would be left with less than $18 billion.
What is clear is that Musk has full control of the company. The change shows that the founder, CEO, CTO, and chairman hold roughly 82.4% of the voting rights after the offering; That’s enough to directly elect or remove a majority of the board and make SpaceX a “controlled company” exempt from certain rules. Nasdaq governance rules. Public stakeholders prepare for the journey into space.
The filing starts the timer on a hot summer of IPOs, and other rumored trillion-dollar listings (Anthropic and OpenAI) will follow. Anthropic secretly unveiled its promotional brochure on Monday.
The question on Wall Street’s mind is whether there’s enough money in the public markets to absorb it all. Anticipating the arrival of the megacap, Nasdaq controversially rewrote its rules last month, allowing the largest IPOs to enter the prestigious Nasdaq 100 index after just 15 trading days, rather than waiting months for the index to regularly recompose; and removing the minimum 10% swimming requirement during this period.
SpaceX is expected to float only 4% of the company, and Nasdaq index funds will have to mechanically absorb SpaceX shares at whatever price prevails. This gives SpaceX’s early investors a ready exit from what will be the biggest payday in startup history.
