SpaceX filed for an initial public offering to raise a record $75 billion. The aerospace firm plans to offer 555.6 million shares. The firm priced each share at approximately $135. This pricing targets an overall company valuation of approximately $1.77 trillion. The company expects to begin trading June 12 on the Nasdaq under the ticker SPCX.
SpaceX, led by Elon Musk, will allocate up to 30% of shares to individual investors. This allocation significantly exceeds the industry standard of 5% to 10%. Brokerages including Fidelity, Charles Schwab, Robinhood, and SoFi will facilitate client access. Fidelity lowered its account minimum to $2,000 to accommodate the increased share availability.