Mentioned:
Elon Musk’s SpaceX has grand ambitions for the future of space exploration. And now, they’ve officially made their Wall Street debut.
What’s happening:
- SpaceX (NASDAQ: SPCX) has successfully raised $75B USD and begun trading on the Nasdaq
By the numbers:
- SpaceX issued roughly 555.6 common shares at a price of $135.00 USD per share in their IPO financing round
- The IPO financing round gives SpaceX a valuation of approximately $1.7T USD
Why it matters:
- SpaceX’s $75B USD capital raise is the single largest IPO financing round in history
Going deeper:
- Elon Musk owns roughly 40% of SpaceX following their $75B USD capital raise and will maintain more than 80% of the voting control in the company due to his ownership of Class B shares which have significantly more voting rights than Class A shares
- Multiple publicly traded companies have equity ownership in SpaceX including Google (NASDAQ: GOOG) who previously made a strategic investment of roughly $900M USD more than a decade ago and EchoStar Corporation (NASDAQ: SATS) who sold SpaceX their AWS-4 and H-block spectrum licenses for approximately $17B USD which was paid in a combination of cash and stock
