SpaceX IPO: $135 a Share, 80% Voting Power for Musk, and a $4.9bn Net Loss

SpaceX will launch its initial public offering on Nasdaq on June 12, aiming to raise at least $75bn in what would be the largest public share sale ever, according to BBC. The company expects to price 550 million shares at $135 each, implying a valuation of about $1.75tn and placing it among the top ten largest US-listed firms. Musk will retain more than 80% of voting power post-IPO. The prospectus discloses last year's revenue of $18.6bn against a net loss of $4.9bn and warns the company "may not achieve profitability in the future." The IPO proceeds are earmarked for expansion of existing operations and future ventures including asteroid mining, Mars colonisation and space-based AI data centres. The offering is the first of three AI-related mega-listings expected this year, with Anthropic and OpenAI to follow.