SpaceX targets fixed $135 IPO roadshow price at $1.75 trillion valuation, source says

Summary

SpaceX plans to set a fixed IPO price of $135 per share, implying a $1.75 trillion valuation and a $75 billion offering size, making it the largest IPO ever. The company will debut on Nasdaq under ticker SPCX on June 12. Retail investors are expected to receive 30% of the allocation, which is unusually high and raises concerns about first-day volatility.

• SpaceX will market its IPO at a fixed price of $135 per share.
• The fixed price approach replaces the typical price range, indicating strong pre-IPO demand.
• The offering size is $75 billion, implying a $1.75 trillion valuation.
• SpaceX will trade on Nasdaq under ticker SPCX, with a debut date of June 12.
• Retail investors are allocated about 30% of the IPO, a high percentage for such a large deal.
• The high retail allocation could lead to unpredictable first-day trading and potential losses on market orders.
• The IPO is more than triple the size of Alibaba's, the previous largest US IPO.
• The discussion highlights the unique risks of retail traders in cult-stock IPOs like SpaceX.