Elon Musk’s SpaceX has officially priced its public offering, raising a staggering $75 billion in what is now the largest IPO in history. The move sets the space and AI company up for a landmark debut on the Nasdaq stock exchange, with trading set to begin Friday.
Quick Facts
- Shares priced at $135 each.
- Total of 555.6 million shares sold.
- Surpasses Saudi Aramco’s $24.9 billion 2019 IPO.
A New Record: Topping Saudi Aramco’s Debut
In a statement on its website, SpaceX confirmed it priced 555.6 million shares at $135 each, securing $75 billion from its underwriters. This figure easily eclipses the $24.9 billion raised by Saudi Aramco during its public markets debut in 2019, making the SpaceX offering the largest IPO in history.
At this valuation, the deal also positions Elon Musk to potentially become the world’s first trillionaire. The company, officially known as Space Exploration Technologies Corp., will trade under the ticker symbol SPCX.
Wall Street Awaits the ‘SPCX’ Ticker
As active trading gets underway, reports suggest significant interest from both large institutional investors and individual buyers. The strong demand indicates the possibility of a classic IPO “pop” on the first day of trading. Crypto betting market Hyperliquid, which offers synthetic exposure to the stock, is currently pricing shares at $167, implying market expectation of a roughly 20% gain.
If the offering is as oversubscribed as anticipated, underwriters have the option to bring an additional 83.3 million shares to market. This would raise another $11 billion at the opening price.
Why This Matters for MENA’s Tech Scene
The SpaceX IPO sends a significant signal to the MENA region, primarily because it dethrones Saudi Aramco’s long-held record for the largest public offering. This shift is a major talking point for the region’s sovereign wealth funds and financial institutions, which are active investors in global technology and closely monitor market benchmarks.
Furthermore, with the UAE and Saudi Arabia investing heavily in their own national space programs and deep-tech initiatives, SpaceX’s massive valuation provides a powerful case study. It highlights the immense investor appetite for ambitious, capital-intensive technology companies and sets a new bar for what regional tech champions could one day achieve on the global stage.
About SpaceX
SpaceX designs, manufactures, and launches the world’s most advanced rockets and spacecraft. The company was founded in 2002 by Elon Musk to revolutionize space technology, with the ultimate goal of enabling people to live on other planets.
Source: TechCrunch
