Wall Street bankers successfully persuaded investors to back a record $75bn public offering for SpaceX, priced at $135 a share on 11 June, convincing the market to look past persistent losses and to accept a structure that left effective control with Elon Musk.
BANKS SOLD THE STORY
SpaceX set the $135 price ahead of the offering, a move Reuters described as upending Wall Street convention, and Goldman Sachs led the underwriting. SpaceX reported a net loss of $4.94bn for 2025 and $4.28bn in its latest quarter, and Musk holds about 85% of shareholder voting power, according to a letter from Senator Elizabeth Warren to the SEC.
TRADING DEBUT
The shares began trading on Nasdaq under the ticker SPCX on 12 June and opened at $150, about 11% above the offer price.