Robinhood to Allocate SpaceX IPO Shares at $135 Price via Lottery
HOOD•SpaceX plans to price its June 12 IPO at a fixed $135 per share, offering 555 million shares for a $1.75 trillion valuation. Robinhood will allocate its SpaceX IPO shares through a randomized lottery open to regular brokerage accounts, excluding retirement and managed accounts.
1. SpaceX IPO Launch Details
SpaceX is set to debut on the Nasdaq under ticker SPCX on June 12, offering 555 million shares at a fixed $135 each to raise $75 billion and imply a $1.75 trillion valuation. The company eschewed a traditional price range, locking in its opening share price ahead of the offering.
2. Robinhood Allocation Process
Robinhood will distribute SpaceX IPO shares via a randomized selection process open to its regular brokerage account holders. Retirement, custodial, joint, and managed accounts are ineligible, and users must submit requests and maintain sufficient cash to cover conditional orders.
3. Potential Impact on Robinhood's Trading Business
Participation in what may be the largest stock debut ever could drive a surge in account activity and commission revenues for Robinhood. High demand for SpaceX shares is likely to increase trade volumes and user engagement leading up to and following the IPO.
