SpaceX Aims to Raise $75 Billion in IPO at $135 Per Share in Landmark Offering, Source Says
SpaceX is targeting a $75 billion raise in its initial public offering (IPO — a company's first sale of shares to public investors), aiming to price at $135 per share, according to a source cited by Reuters on 3 June 2026. Bloomberg corroborates the report. The offering involves the sale of 555.6 million shares, making it one of the largest IPOs on record. SpaceX is reportedly breaking from the conventional IPO process, in which companies typically announce a price range before a roadshow (a series of presentations to institutional investors to generate orders) and set a final price before trading begins. The company is planning to set terms as soon as Wednesday, compressing the standard timeline. Both reports are sourced to unidentified persons familiar with the matter. SpaceX did not immediately respond to comment requests at the time of publication. Separately, reports indicate SpaceX has reserved up to 5% of IPO stock for employees and associates, and that the company is seeking a reduced fee from underwriting banks relative to the roughly $500 million in fees that would otherwise accrue at standard rates given the deal size. The offering follows Anthropic's confidential filing for a US IPO earlier this week, placing two of the most prominent private technology companies simultaneously in the public-market pipeline. The dual momentum has contributed to a rally in global equity markets driven by AI optimism.
Why this matters
An IPO at the reported scale would rank among the largest in US market history, generating substantial fee revenue for underwriting banks and counsel alike. The non-standard pricing process — bypassing a traditional price range and roadshow — creates novel documentation and disclosure questions that securities lawyers will need to navigate carefully. Although the listing is US-based with no London Stock Exchange nexus, the deal is relevant to City students because of its market-moving scale, the precedent it sets for tech IPO structuring, and the fact that cross-border institutional investors including London-based asset managers will be among the target allocants. The simultaneous Anthropic filing underlines that the pipeline of marquee technology listings is opening after years of suppressed activity.
On the Ground
A trainee on a large IPO would assist with prospectus proofreading and verification notes — the process of tracing every factual statement in the offering document back to a source document. They would also coordinate comfort letter requests to auditors and assist with PDMR (person discharging managerial responsibilities) notification letters on completion.
Interview prep
Soundbite
A $75bn SpaceX IPO would test whether markets can absorb record-scale offerings while non-standard pricing sidesteps conventional investor-protection mechanics.
Question you might get
“What are the key legal risks of bypassing the traditional roadshow and price-range process in a large IPO, and how might they affect the liability exposure of underwriting banks?”
Full answer
SpaceX is reported to be targeting a $75 billion IPO priced at $135 per share — one of the largest public offerings on record. The decision to bypass a conventional roadshow and price range compresses investor-protection processes that typically allow institutional buyers to calibrate demand, raising questions about how underwriters manage book-building risk at this scale. This follows Anthropic's confidential IPO filing earlier this week and reflects a broader unlocking of the technology IPO market after years of suppressed activity. The compression of the traditional IPO timeline may become a structural shift if SpaceX's listing succeeds, influencing how future large-scale technology companies approach public markets.
Sources
My notes
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