SpaceX Eyes $75B IPO at $1.77T Valuation, Spurs PSPAC Merger Buzz
SpaceX plans a $75 billion IPO at $135 per share, targeting a $1.77 trillion valuation, positioning PSPAC as a primary merger vehicle. The deal’s $28.5 trillion total addressable market hinges on one unprofitable division, prompting investors to explore Asian proxy plays and the $60 billion AI startup option.
1. SpaceX IPO Details
SpaceX has filed to raise $75 billion through an IPO priced at $135 per share, implying a $1.77 trillion valuation. The offering is slated to debut on Nasdaq in mid-June, marking one of the largest IPOs in history.
2. PSPAC Merger Prospects
Pershing Square’s PSPAC stands as a leading SPAC candidate to merge with SpaceX, offering investors structured exposure through its existing trust vehicle. The alignment accelerates PSPAC’s path to deploy capital and realize potential shareholder returns.
3. Market Reaction and Proxy Plays
Investor interest has spilled into Asian ETFs and supply-chain partner equities linked to SpaceX, as market participants seek proxy plays to capture upside ahead of the anticipated IPO. Regional demand signals confidence in downstream beneficiaries.
4. Unprofitable Division and AI Option
The IPO prospectus underscores a $28.5 trillion total addressable market concentrated in one currently unprofitable division, raising profitability concerns. Additionally, SpaceX holds an option to acquire AI coding startup Cursor for $60 billion, spotlighting strategic diversification moves.
