SpaceX Prices IPO Shares at $135, Sets New Record
Original: SpaceX officially prices shares at $135 in the largest IPO ever
Why This Matters
Largest IPO in history marks SpaceX's transition to public markets
SpaceX officially priced 555.6 million shares at $135 each in its IPO, raising $75 billion and becoming the largest public offering in history. The space company will trade on Nasdaq under ticker SPCX starting Friday.
Elon Musk's SpaceX confirmed it raised $75 billion by pricing 555.6 million shares at $135 each for its IPO, surpassing Saudi Aramco's $24.9 billion 2019 record. The company will trade under ticker SPCX on Nasdaq. The deal could make Musk the world's first trillionaire, with his holdings including 850 million Class A shares and 5.6 billion Class B shares with 10 votes each. Underwriters have an option to sell additional 83.3 million shares for another $11 billion. Major beneficiaries include Antonio Gracias with 503.4 million shares worth $68 billion, board member Luke Nosek with 33 million shares, and COO Gwynne Shotwell with 12.6 million shares. The offering attracted four times oversubscription according to reports.