SpaceX is making history, filing to raise $75 billion in what would be the largest initial public offering ever. The company is offering 555.6 million shares at $135 each, valuing the rocket and satellite giant at roughly $1.77 trillion.
For context, Saudi Aramco's 2019 IPO raised $25.6 billion. SpaceX is looking to nearly triple that figure. Pricing is targeted for June 11, with shares expected to begin trading on Nasdaq under the ticker SPCX.
Goldman Sachs is leading the underwriting. The offering is fully primary, meaning all proceeds go to SpaceX, not existing shareholders. The company plans to invest in AI, Starlink expansion, and launch capacity.
CEO Elon Musk retains significant control through a dual-class share structure, similar to Meta and Alphabet. Public shareholders get economic exposure; Musk keeps control.
A key detail buried in the filing: SpaceX holds 18,712 Bitcoin on its balance sheet, valued at approximately $1.29 billion. This places SpaceX among the largest corporate Bitcoin holders globally, a purely treasury allocation strategy.
For investors, SPCX offers exposure to rockets, satellites, AI, and Bitcoin. However, the dual-class structure remains a governance risk.