New York : Elon Musk’s SpaceX raised USD75 billion in its blockbuster initial public offering on Thursday on the sale of 555.56 million shares, valuing the space, satellite and AI provider at USD1.77 trillion, a record for an initial offering.
The rocket and satellite maker is set to debut on the Nasdaq on Friday, a listing expected to usher in a wave of mega IPOs.
SpaceX priced the biggest-ever U.S. initial public offering at USD135 per share, making it one of the world’s most valuable companies.
The largest-ever IPO before SpaceX was the December 2019 offering of Saudi Aramco, which raised USD25.6 billion at a USD1.71 trillion valuation. In inflation-adjusted terms, Aramco raised USD33.2 billion at a USD2.21 trillion value.
SpaceX’s USD1.77 trillion valuation, based on 13.08 billion shares outstanding, could rise further should the underwriters exercise their right to sell additional shares, a decision typically made within 30 days after the offering.
