– SpaceX is planning to offer shares at $135 apiece to raise $75 billion in its initial public offering, according to people familiar with the matter, as Elon Musk rejects another Wall Street convention by setting a fixed price ahead of the marketing phase of the deal.
Most Read from Bloomberg The rocket, satellite and artificial intelligence company aims to sell 555.6 million shares in the offering, the people said
Deliberations are ongoing and details of the IPO could still change before the terms are disclosed as soon as Wednesday, or even during the marketing process, they said, asking not to be identified as the information isn’t public. The move adds to the unconventional aspects of a deal that’s set to be the biggest ever listing. Most companies listing in the US typically announce a price range before marketing shares during investor presentations, with only a handful of tiny firms opting for a fixed price.
Such offerings are more common in Europe and Asia. For example, the Hut Group raised $2.5 billion in a London IPO in 2020. Reuters reported the details of SpaceX’s terms on Tuesday.