SpaceX Files $75B IPO at $1.75T Valuation, Merger with Tesla Eyed
SpaceX filed its S-1 to list on Nasdaq under SPCX, targeting $75B in proceeds at a $1.75T valuation, with 2025 revenue of $18.7B (including $11.4B from Starlink) and a $4.9B loss. Wedbush projects a SpaceX-Tesla merger by 2027 and traders caution the IPO may divert investor focus from Tesla.
1. IPO Filing Details
On May 20, SpaceX filed its S-1 to go public under the ticker SPCX, aiming to raise $75 billion at a $1.75 trillion valuation with trading expected to begin as early as June 12 on Nasdaq.
2. Financial Performance
The company reported $18.7 billion in 2025 revenue, led by $11.4 billion from Starlink, alongside a net loss of $4.9 billion.
3. Banking Group and Share Structure
Goldman Sachs will lead the offering alongside Morgan Stanley, Bank of America, Citigroup and JPMorgan, while Elon Musk will retain 85.1% of voting control post-IPO.
4. Tesla Impact and Merger Outlook
Wedbush projects that SpaceX and Tesla will merge by 2027, and market participants warn the high-profile IPO could draw investor attention away from Tesla shares.