SpaceX sets IPO price at $135 ahead of roadshow in break with Wall Street norms

SpaceX on Wednesday set the price of its initial public offering at $135 per share a week before its planned market debut, a move that bypasses the traditional Wall Street book-building process.

The company confirmed in an amended filing on Wednesday said that it plans to sell shares at $135 each, in a move that underscores Elon Musk’s willingness to chart his own course in the capital markets. The offering is expected to raise about $75 billion, which would make it the largest IPO on record and value SpaceX at roughly $1.75 trillion, placing it among the 10 most valuable publicly traded U.S. companies.

The move is highly unconventional, as major U.S. IPO issuers typically determine pricing only after gauging investor demand during the roadshow process. By disclosing the price a week in advance, Musk is once again reshaping the IPO playbook.

SpaceX is scheduled to begin its investor roadshow on Thursday, with final pricing set for June 11 and trading on the Nasdaq expected to start the following day.

Beyond the early pricing announcement, Musk has introduced several other departures from standard IPO practices, including plans to allocate a larger portion of shares to retail investors, seek faster inclusion in major stock indexes, and maintain governance structures that preserve significant founder control.

The company will list its Class A common stock on The Nasdaq Stock Market and Nasdaq Texas under the symbol “SPCX.”

Goldman Sachs, Morgan Stanley, BofA Securities, Citigroup, J.P. Morgan, Barclays, Deutsche Bank, Wells Fargo, UBS, RBC Capital are the joint book runners for the offering.

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