SpaceX debuts on Wall Street this Friday (12) with the biggest IPO in history
SpaceX, Elon Musk's special sector company, debuts on Wall Street this Friday (12). The company's IPO (initial public offering), announced on May 20, promises to be the largest in the history of the New York Stock Exchange.
Listed on Nasdaq, the sale of 555.56 million shares at an initial price of US$135 will make SpaceX one of the most valuable publicly traded companies in the world, at a record value of around US$1.77 trillion.
The historic IPO will also have the ability to boost Elon Musk's status from the world's richest man to the planet's first and only trillionaire.
A total of 23 institutions participated in the SpaceX IPO, including Goldman Sachs, Morgan Stanley, BofA, Citigroup and JPMorgan. BTG Pactual bank, owned by André Esteves, is the only Brazilian bank listed in the operation, according to a previously published prospectus.
Despite the public offering, Musk will still control half of the company's total shares, some of which are Class B shares, which give greater voting power in the company's decisions. Thus, the current billionaire will have 82.4% of voting control in his hands.
The IPO also attracted $70 billion in retail orders, according to Bloomberg News. This means that individuals demand the paper.
The expectation, however, must initially be met for only 20% of these investors - which may reflect on the share price as demand for the assets increases.
The magnitude of the IPO has drawn attention to the increasingly interconnected structure of Musk's business empire, which includes electric car maker Tesla as well as businesses in artificial intelligence and brain chip implants.
In addition, this is considered a step closer to the commercialization of space travel and the ambitious plans to establish human outposts on the Moon and Mars. At the same time, it indicates more evidence of wealth concentrated in technology companies.
Founded in 2022, the company focused on building rockets and transporting cargo to outer space. Almost 20 years later, after merging with Starlink, it began operating satellite internet services.
This year, SpaceX also merged with Musk's artificial intelligence startup, xAI, in a deal that valued the space rocket company at US$1 trillion and the developer of the Grok chatbot, available on X, at US$250 billion.
The latest balance sheet released by the company reported revenue of US$4.69 billion, compared to US$4.07 billion in the previous year. The loss for the same period was $1.27 per share, compared to a loss of $0.18 a year earlier.
SpaceX on B3, the Brazilian Stock Exchange
In addition to the Nasdaq listing, the Brazilian Stock Exchange, B3, will also make part of the assets available to Brazilian investors in the form of BDRs (Brazilian Depositary Receipts).
BDRs (Brazilian Depositary Receipts) are certificates traded on the Brazilian market that represent assets issued abroad.
SpaceX aims for biggest IPO in history
This instrument allows investors to acquire securities from international companies without the need to open an account outside the country, carry out international remittances or exchange operations.
Although SpaceX shares have an initial price forecast of US$135, approximately R$675, the BDR structure was defined with a parity of 1 to 15. In other words: each share traded in the United States will correspond to 15 BRDs in Brazil.
For this reason, the asset traded under the code SPCX34 can be purchased for amounts between R$50 and R$70.
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Source: CNN