SpaceX is executing a monumental shift from private pioneer to public entity. The Elon Musk-led aerospace giant filed its S-1 registration in April 2026, targeting a Nasdaq listing under the ticker SPCX.
The financial scale is unprecedented. Pricing shares at $135, SpaceX aims to raise approximately $75 billion by offering 555.6 million shares. This move values the company at roughly $1.8 trillion post-listing, securing its place as the largest initial public offering in history.
Revenue momentum supports the valuation. In 2025, SpaceX reported $18.7 billion in total revenue. Starlink dominated the portfolio, generating $11.4 billion, or more than 60% of the total. The launch segment contributed $4.1 billion, while government contracts and Starshield accounted for the remaining $3.2 billion. The company also signaled strategic expansion into AI-related infrastructure.
Investors should note the governance structure. Through a multi-class share arrangement, Musk will retain significant voting control, mirroring the dual-class structures used by Meta and Alphabet. This ensures the founder maintains outsized decision-making power regardless of economic dilution.
Trading is scheduled to commence around June 12, 2026. Early roadshow reports indicate overwhelming demand and oversubscription, suggesting a potential surge on opening day. In parallel markets, SPCX perpetual futures have already appeared on crypto exchanges, allowing traders to speculate on price movements outside traditional equity channels.