In what is easily the most hotly anticipated public listings in the tech industry, Elon Musk’s space company SpaceX, is eying a record $75Bn raise in its planned IPO, reports Reuters. The planned IPO, as and when it happens, will be the largest such fundraise historically.
The Reuters report further states SpaceX planning to offload over half a billion shares — 555.6 million shares to be precise. At $135 a piece, that would value the company at a record $1.75 Trillion.
What is interesting about SpaceX’s IPO, is the manner in which it is setting its share price — a stark departure from usual practice. Typically in an IPO, companies usually announce a price range for their share price, then marketing the same among investors, which finally results in setting of the price.
However in the case of SpaceX, the company has set up a fixed price of $135 apiece, and presented the same to investors. While highly unusual, many are terming the move as “bold”, while also suggesting it reflects the high confidence Musk and the board place in SpaceX commanding a premium based on its recent rocket achievements.
SpaceX’s roadshow begins on Thursday. It earlier held some “testing the waters” meetings with investors. The company’s plans, including the size of the raise, are subject to change as investor meetings get under way, the report further states.
SpaceX will be among the first in a series of high-profile tech IPOs slated to come one after the other, all way above the $1 trillion valuation zone. SpaceX will be followed by OpenAI and Anthropic. Anthropic recently closed a $65Bn Series H round, valuing the company at $965Bn, setting up the stage for what could well be the most valued public listing debut in history.