SpaceX’s $25B IPO at $150B Valuation Crowds Out Smaller 2026 Listings
SpaceX plans a 2026 IPO targeting up to $25 billion in proceeds at a roughly $150 billion valuation, which would eclipse previous US listings. This mega-deal is expected to occupy underwriting capacity and exchange listing slots through late 2026, delaying smaller companies’ planned initial public offerings.
1. SpaceX Mega IPO Details
SpaceX aims to raise up to $25 billion in its 2026 initial public offering at a valuation near $150 billion, positioning it as the largest US stock debut on record and attracting top global underwriters.
2. Impact on IPO Timelines
The scale of SpaceX’s deal is expected to consume underwriting resources and available exchange listing slots through the second half of 2026, forcing mid-market and smaller issuers to postpone filings into 2027.
3. Implications for Houlihan Lokey
As a leading advisor on mid-market IPOs, Houlihan Lokey may see a shift in its 2026 deal pipeline and deferred revenue as clients delay public offerings to avoid the congested listing calendar.