SpaceX valued its shares at $135, according to a filing Thursday with the U.S. Securities and Exchange Commission, paving the way for one of the most closely watched public market debuts in recent years.
The company sold 555.6 million shares at that price, raising $75 billion, making it the largest IPO ever, far surpassing Saudi Aramco’s $30 billion in 2019.
The Elon Musk-led aerospace and satellite company is expected to begin trading on Nasdaq on Friday under the ticker SPCX, giving public investors their first opportunity to buy shares. Based on the offering price, SpaceX will enter the public markets with a fully diluted valuation of approximately $1.8 trillion.
The valuation is expensive, given that SpaceX generated about $19 billion in revenue last year, thanks to launches, government contracts and its fast-growing Starlink satellite internet business.
Also worth noting is the company’s significant bitcoin assets. SpaceX held 18,712 bitcoins as of March 31. This would be valued at just under $1.2 billion at BTC’s current price of around $63,500.
