SpaceX confirms it will seek $75 billion in record IPO

[Yo_Mama_Been_Loggin]

Confirming earlier reporting, SpaceX (SPAX.PVT) said in a filing it will seek proceeds of $75 billion from its initial public offering, a record amount for any IPO.

In the filing, the company said it would offer 555,555,555 shares at $135 each, raising $75 billion. That would amount to 4.2% of the entire float, with the remaining 95.8% held by CEO Elon Musk and other insiders. SpaceX authorized the underwriters to sell additional shares if needed, bringing the total raised to $85.7 billion.

At that share price, it would give SpaceX a hypothetical market cap of around $1.785 trillion.

SpaceX plans to use the proceeds for purposes "including the expansion of our AI compute infrastructure, enhancements to our launch infrastructure and launch vehicles, increases in the scale and capacity of our satellite constellations, and any remaining amounts for general corporate purposes."

https://finance.yahoo.com/markets/stocks/article/spacex-confirms-it-will-seek-75-billion-in-record-ipo-213415033.html

Elon wants you to buy some so he can be the world's first trillionaire.