Key facts
- SpaceX plans an IPO with a fixed share price of $135 and a target valuation of $1.8 trillion.
- Up to 30% of the offering may be allocated to individual retail investors.
- Employees will be permitted to sell shares before the standard six-month lock-up period.
- Elon Musk will retain 85.1% of the company's voting power post-IPO.
- SpaceX is loss-making due to investments in AI and data centers, with Starlink being its most profitable unit.
SpaceX is preparing for its initial public offering, challenging traditional Wall Street norms with a fixed share price of $135 and a target valuation of $1.8 trillion. This approach deviates from the typical price discovery process during roadshows, shifting focus to a sales effort. The company is also considering allocating up to 30% of the offering to individual retail investors, a significant departure from standard IPOs, potentially leveraging Elon Musk's large following. Employees will be permitted to sell shares before the standard six-month restriction period, signaling confidence in the stock's stability. Despite these sales, Musk is set to retain substantial control, holding an estimated 85.1% of the company's voting power post-IPO. SpaceX, while loss-making due to significant investments in artificial intelligence and data centers, relies on its profitable Starlink unit to fund these ventures.