This is the largest IPO in history by proceeds. Traders should watch for first-day price action on June 15, 2026, and monitor the lock-up expiration schedule (180-day standard, 366-day for founders). The multi-class structure means founder voting control is entrenched, reducing activist risk. The global retail offering in Europe, UK, Japan, Canada, and Australia may create cross-border demand dynamics.
Price Chart
Executive Summary
Space Exploration Technologies Corp. (SPCX) filed an 8-K detailing a massive IPO of 555,555,555 shares of Class A common stock at $135.00 per share, with an underwriter option for an additional 83,333,333 shares. The filing also includes amended bylaws and a restated certificate of formation establishing a multi-class stock structure with 10 votes per share for Class B stock held by Elon Musk and other qualified shareholders. This is a transformative capital markets event that will raise approximately $75 billion in gross proceeds and establish SPCX as a publicly traded company with founder-controlled voting power.
Key Financial Metrics
Key Facts
- IPO of 555,555,555 shares of Class A common stock at $135.00 per share, raising ~$75 billion in gross proceeds
- Underwriters have a 30-day option to purchase up to an additional 83,333,333 shares
- Class B common stock carries 10 votes per share, held by Founder Elon Musk and qualified shareholders, ensuring founder control
- Shares to be listed on Nasdaq and Nasdaq Texas, with closing expected June 15, 2026
- Amended bylaws include exclusive forum in Texas Business Court and mandatory arbitration for shareholder disputes
- Underwriting syndicate led by Goldman Sachs, Morgan Stanley, BofA, Citigroup, and J.P. Morgan
- Global offering includes public offerings in Japan, Canada, Europe, Australia, and the UK
Financial Impact
Gross proceeds of approximately $75 billion from the sale of 555,555,555 shares at $135.00 per share, with potential for up to $86.3 billion if the overallotment option is fully exercised
Risk Factors
- Massive dilution from the IPO may pressure the stock in the near term
- Founder-controlled voting structure limits shareholder influence on governance
- Lock-up expirations starting in late 2026 could create significant selling pressure
- Complex multi-jurisdictional offering introduces regulatory and execution risk
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-043288 |
| Exhibit: exhibit32-8xk.htm | 0001628280-26-043288 |
| Exhibit: exhibit31-8xk.htm | 0001628280-26-043288 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 21, 2026 6w ago | GOVT-CONTRACT | $136.97 $141.50 | ▲ +3.31% | ▲ +2.83% | $151.24 (+10.42%) |
Aug 14, 2026 7w ago | 8-K | $140.00 $136.97 | ▼ −2.16% | ▼ −0.80% | $151.24 (+8.03%) |
Aug 9, 2026 7w ago | Institutional Cluster | $138.74 $146.23 | ▲ +5.40% | ▲ +5.45% | $151.24 (+9.01%) |
Jun 26, 2026 13w ago | 8-K | $164.19 $160.42 | ▼ −2.30% | ▼ −3.68% | $151.24 (−7.89%) |
Jun 23, 2026 14w ago | 8-K | $154.54 $157.54 | ▲ +1.94% | ▲ +0.23% | $151.24 (−2.14%) |
Jun 16, 2026 15w ago | 8-K | $201.80 $156.11 | ▼ −22.64% | ▼ −20.41% | $151.24 (−25.05%) |
Jun 15, 2026 15w ago | 8-K | $201.80 $156.11 | ▼ −22.64% | ▼ −20.41% | $151.24 (−25.05%) |
Jun 12, 2026 16w ago | 424B4 | $160.95 $185.00 | ▲ +14.94% | ▲ +14.27% | $151.24 (−6.03%) |
Jun 12, 2026 16w ago | EFFECT | $160.95 $185.00 | ▲ +14.94% | ▲ +14.27% | $151.24 (−6.03%) |
Jun 1, 2026 17w ago | S-1/A | — | awaiting T+5 | — | — |
US Market Status
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