Elon Musk's aerospace company SpaceX has finalized its initial public offering, raising $75 billion through the sale of 555.6 million shares at $135 each. The debut marks the largest IPO in history, valuing the company at $1.77 trillion.
Key points
- The offering price of $135 per share was set directly by the company rather than through a traditional price range process.
- Elon Musk will maintain control of the firm with an 82 percent voting stake following the market debut.
- SpaceX reported a $4.94 billion loss on $18.67 billion in revenue for the previous year, with costs driven by Starship rocket development.
- The company's valuation surpasses major entities including Meta, JPMorgan, and Tesla.
- Approximately 30 percent of the shares were reserved for private investors.
Why it matters
The IPO represents a historic shift in the commercialization of space and establishes SpaceX as one of the world's most valuable companies despite its current lack of profitability.
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