Elon Musk's Space Exploration Technologies Corp. or SpaceX announced its plan to offer around 555.56 million shares of its Class A common stock at its initial public offering or IPO with a price of $135.00 per share. The company plans to raise around $75 billion in the IPO.
The underwriters may also exercise an option to purchase up to an additional 83.33 million shares of Class A common stock.
In a filing with the U.S. Securities and Exchange Commission, the company noted that Musk, its founder, Chief Executive Officer, Chief Technical Officer and Chairman of the board, will hold around 82.4% of the voting power of its common stock.
It would be around 82.3% if the underwriters exercise their option to purchase additional shares of Class A common stock in full.
As a result, Musk will be able to control the outcome of matters requiring shareholder approval, the firm noted.
Texas-based SpaceX will offer shares of Class A common stock, par value $0.001 per share. The shares will be listed on Nasdaq Stock Market LLC and Nasdaq Texas, LLC under the symbol "SPCX."
Following the completion of the offering, there will be Class A common stock and Class B common stock. Each share of Class A common stock will entitle its holder to one vote per share, while each share of Class B common stock will entitle its holder to 10 votes per share.
The company will be a "controlled company" under the corporate governance rules of Nasdaq following the completion of the offering.
For comments and feedback contact: editorial@rttnews.com
Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.