Overview
- SpaceX will offer 555,555,555 shares at an indicated $135 each to raise about $75 billion, implying a roughly $1.75–1.8 trillion valuation and a planned Nasdaq listing on Friday, June 12.
- Company filings show about $18.7–19 billion in 2025 revenue and a near $5 billion net loss driven by heavy investment in xAI and Starship development while Starlink remains the primary and only profitable unit.
- Elon Musk will keep decisive voting control with roughly the mid-80s percent of votes and less than 5 percent of total equity will be freely tradable at the IPO, concentrating power and limiting immediate liquidity.
- Up to 30 percent of the offered shares are reserved for retail investors and many early employees hold equity that could become large paper gains, but lock-up terms and limited supply may restrict quick sales.
- Index providers have adopted fast-entry or free-float adjustments that could force ETFs to buy billions in the new stock soon after listing while independent valuers such as Morningstar and Damodaran report materially lower fair values, raising warnings about speculative downside risk.