SpaceX plans to sell 555.6 million shares at a fixed price of $135 each.
The offering could value the company at about $1.75 trillion.
The roadshow starts Thursday ahead of a potential Nasdaq debut next week.
SpaceX is seeking to raise a record $75 billion in an initial public offering (IPO) that could value the company at around $1.75 trillion, according to Reuters. If completed at its proposed size, the listing could become the largest IPO ever and mark a major milestone for public markets.
In an unusual move ahead of its investor roadshow, the Elon Musk-led company plans to set its IPO price at $135 per share, Reuters reported, citing sources familiar with the matter. SpaceX intends to sell about 555.6 million shares through the offering.
1 May 2026
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The IPO is expected to consist entirely of newly issued shares, meaning the proceeds would go directly to the company. Existing shareholders are not expected to sell stock as part of the offering.
Different Path To Market
Most companies launching an IPO provide investors with a price range and determine the final share price after gauging demand during the roadshow. SpaceX's plan to fix the share price before those meetings begin would mark a departure from the traditional process.
The company's investor roadshow is scheduled to start on Thursday following preliminary discussions with potential investors. The final terms of the offering could still change depending on demand.
The IPO is expected to include a standard 15% greenshoe option, allowing underwriters to sell additional shares if investor interest exceeds expectations. Reuters has previously reported that SpaceX could begin trading on the Nasdaq as early as June 12 under the ticker symbol "SPCX".
Why Investors Are Watching Starlink
The listing would give public market investors exposure to one of Musk's most closely watched businesses, whose operations span rocket launches, satellite internet services and AI-related infrastructure ambitions.
Starlink, SpaceX's satellite broadband business, is widely viewed as the company's main profit-generating unit and a key part of its pitch to investors. The company has also highlighted long-term opportunities ranging from satellite communications to future AI infrastructure projects.
For the quarter ended March 31, SpaceX reported revenue of $4.69 billion, up from $4.07 billion a year earlier. Losses widened to $1.27 per share from 18 cents per share during the same period. For 2025, revenue rose to $18.67 billion, though the company posted a net loss of $4.94 billion after reporting a profit in the previous year.
Investor Focus On Control Structure
Alongside the company's growth prospects, investors are also expected to examine its governance structure. According to Reuters, SpaceX's dual-class share arrangement would leave significant voting control with Musk and a small group of insiders after the listing.
The offering is being closely watched across Wall Street and could help revive the market for large-scale listings. Reuters reported that other high-profile private companies, including OpenAI and Anthropic, are also expected to test investor appetite for new public offerings in the coming years.
Goldman Sachs, Morgan Stanley, BofA Securities, Citigroup and JPMorgan are leading the underwriting syndicate for the offering.
