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

SpaceX, the aerospace company founded by Elon Musk, is making waves with plans to set a fixed share price of $135 as it gears up for its initial public offering (IPO). This strategy, confirmed by a source close to the situation, deviates from the traditional practice of offering a price range to assess market demand. In a groundbreaking move, SpaceX is preparing to sell 555.6 million shares, which would result in an offering size of approximately $75 billion. At the proposed price point, the company would achieve a staggering valuation of $1.75 trillion, contingent upon the successful completion of transactions involving EchoStar spectrum and Cursor. This valuation would position SpaceX as the seventh-largest company in the United States, surpassing Tesla's current market cap of around $1.6 trillion. The company is set to make its public debut on June 12 under the ticker symbol SPCX on the Nasdaq, aiming to secure the title of the largest IPO in history, dwarfing Alibaba's previous record. Furthermore, SpaceX has disclosed in its recent filings with the Securities and Exchange Commission that it has faced substantial losses. Additionally, an amended filing revealed plans to allocate up to 5% of its IPO shares for purchase by select employees and stakeholders, enhancing employee participation in the company's growth. This ambitious IPO represents a significant milestone for SpaceX as it seeks to redefine the aerospace industry and expand its impact on space exploration.