SpaceX to sell 555.6 mln shares at $135 in Nasdaq IPO under ticker SPCX

SpaceX plans to sell 555.6 million shares at $135 each on Nasdaq under the ticker SPCX, targeting a $75 billion raise and valuing the company near $1.77 trillion in what it calls the largest IPO on record. According to BeInCrypto, a welder who immigrated from Mexico, Juan Hernandez, holds stock worth roughly $880,000 ahead of next week’s IPO after building the stake from a $10,000 equity grant he received in 2015. The report cites comments from The Economist’s Joshua Roberts warning IPOs often underperform, and notes lock-up periods for insiders, Fidelity retail access hurdles, and plans by some index providers to fast-track inclusion within five days.