SpaceX raises $75 billion in record-setting IPO ahead of Nasdaq debut
Elon Musk's space company SpaceX raised $75 billion ahead of its Nasdaq debut, the largest IPO in history. Shares were priced at $135 and the company's valuation reached $1.8 trillion. According to CNBC, demand far exceeded expectations and the retail allocation was cut to the low 20% range.
SpaceX priced its shares at $135 and raised $75 billion before its Nasdaq debut. According to CNBC, the deal surpassed Saudi Aramco's 2019 listing of $25.6 billion to become the largest IPO ever recorded. The company's overall valuation reached $1.8 trillion and significantly increased Elon Musk's net worth.
Sources told CNBC that demand far exceeded expectations and the company cut the retail investor allocation to the low 20% range. Senator Elizabeth Warren wrote to the stock exchanges questioning the oversight of the IPO and argued that the dual-class share structure disadvantages smaller investors. Nasdaq said it had reviewed the filing in line with standard procedures.
CNBC reported that US stock futures ticked higher ahead of the historic listing. Analysts said SpaceX beginning to trade could produce near-term volatility in tech-heavy indexes. This is not investment advice.
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