SpaceX sets IPO price at $135 in unconventional fixed-price offering; retail allocation uncertain
By
Ari Levy, Leslie Picker
If you only eat one bagel today, this is the bagel.
Summary
SpaceX is conducting an unconventional IPO with a fixed price of $135 per share rather than the traditional price range based on demand. The rocket maker aims to raise a record sum at a historic valuation, with Elon Musk maintaining control. Brokerage platforms including Charles Schwab, Fidelity, Robinhood, SoFi, and E-Trade are making shares available to retail investors, though allocation details remain uncertain.
Key quotes
· 3 pulledNothing about SpaceX's initial public offering is ordinary.
The rocket maker is aiming to raise a record sum, by a wide margin, at a historic valuation, and will be controlled by Elon Musk, who's also CEO of Tesla, another trillion-dollar company.
SpaceX is offering a take-it-or-leave-it price of $135, rather than providing a range and then pricing the deal based on demand, as is customary in IPOs.
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