SpaceX Public Debut Set
SpaceX Targets June 3, 2026, for Initial Public Offering at $135 Per Share
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SpaceX has officially launched its initial public offering, pricing 555,555,555 shares of Class A common stock at $135.00 each on June 3, 2026, according to Benzinga. The deal targets a raise of roughly $75 billion, putting the company's implied valuation at approximately $1.77 trillion — which would make it the largest IPO in global history, surpassing Saudi Aramco's 2019 record.
Trading is expected to begin on the Nasdaq under the ticker "SPCX" on June 12, 2026. Underwriters, led by Goldman Sachs, have a 30-day option to buy up to 83,333,333 additional shares, which could push the total raise close to $86 billion, finance.yahoo.com reported.
A $75 Billion Raise Built on Rockets and AI
SpaceX filed its public S-1 with the SEC on May 20, 2026, revealing its financials for the first time. The company posted $18.7 billion in total revenue for 2025, up 33% from the prior year. Starlink, its satellite internet service, drove 61% of that — $11.4 billion — and now has 10.3 million subscribers worldwide.
But the company also reported a net loss of $4.94 billion under standard accounting rules. That loss was driven largely by $12.7 billion in spending on artificial intelligence. SpaceX merged with Musk's AI venture xAI in February 2026 in an all-stock deal worth $250 billion. The merger brought Starlink, Starship, and the Grok AI platform under one roof.
Musk Keeps 82% of the Votes After the IPO
Even after the offering, Elon Musk will hold roughly 82.4% of the voting power. He does this through Class B shares, which carry 10 votes each versus one vote for the Class A shares being sold to the public. That means public investors have almost no say in how the company is run.
One major pension fund, Denmark's AkademikerPension, has already blacklisted the IPO. The $25 billion fund called Musk's dual role as CEO and Chairman a conflict of interest that "leaves public shareholders with zero recourse," according to Bloomberg. Morningstar analyst Nicolas Owens also warned the stock is priced nearly 50% above what he considers fair value, pegging the company's worth at around $780 billion.
Bull Case: Buying the Backbone of the 21st Century
Not everyone is skeptical. Wedbush Securities analyst Dan Ives called the IPO a chance to invest in a "trident of future tech" — low-cost space launch, global internet, and sovereign AI. "You aren't buying a rocket company; you're buying the backbone of the 21st-century economy," Ives said.
SpaceX is also doing something unusual: it is giving 30% of the offering's float to retail investors — about three times the standard amount. Platforms like Robinhood and Moomoo have reported record pre-IPO interest. That large retail slice may shield the stock early on from institutional short-sellers who bet prices will fall.
Ten Banks Back the Deal as Trading Nears
Goldman Sachs is leading the underwriting as the primary book-runner, with Morgan Stanley acting as lead stabilization agent. Eight other major banks round out the syndicate, including J.P. Morgan, Citigroup, BofA Securities, Barclays, Deutsche Bank, RBC Capital Markets, UBS, and Wells Fargo, according to newswire.ca.
The registration statement filed with the SEC has not yet become effective, meaning the shares cannot be legally sold until the SEC declares it so. A global investor roadshow kicked off in New York on June 4. Final pricing and share allocation are expected on June 11, one day before the stock is set to start trading, finance.yahoo.com noted.
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