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For once, SpaceX is ahead of schedule: Elon Musk\u2019s space and AI conglomerate officially confirmed that it has raised $75 billion from the sale of its shares to its underwriters, who are set to begin marketing the company on the Nasdaq stock exchange Friday.<\/p>\n
SpaceX\u2019 priced its \u2018s 555.6 million shares were priced at $135 each, the company said in an update on its website<\/a>. That makes SpaceX officially the largest IPO in history, easily eclipsing the $24.9 billion in funds raised by Saudi Aramco during its 2019 public markets debut. At this price, the deal also looks set to make Musk the world\u2019s first trillionaire.<\/p>\n The company, officially known as Space Exploration Technologies Corp., will trade under the SPCX ticker symbol. <\/p>\n As active trading gets underway tomorrow, SpaceX\u2019s share price may sink or rise. But anecdotal reports suggest that big institutional investors and individual buyers are lining up to purchase shares in the 24-year-old technology company.<\/p>\n If the sale is as over-subscribed as the talkative bankers make it out to be, they have an option to bring an additional 83.3 million shares to market, which would raise another $11 billion at the company\u2019s opening price. <\/p>\n Hyperliquid, a crypto betting markets that attempts to offer synthetic exposure to SpaceX stock, currently prices<\/a> the shares at $167, suggesting that market participants expect a classic 20% IPO pop on the first day of trading. <\/p>\n In the longer term, there are big open questions about how SpaceX will be able to justify its eye-popping valuation. The company\u2019s outstanding engineering projects<\/a>, from the world\u2019s largest reusable rocket to an new American chip fab, fill up a daunting to-do list. <\/p>\n This story is developing \u2026<\/em><\/p>\n<\/div>\n When you purchase through links in our articles, we may earn a small commission<\/a>. This doesn\u2019t affect our editorial independence.<\/em><\/p>\n