SpaceX IPO is set to take Wall Street by storm. SpaceX’s IPO has garnered more than $250 billion in investor interest, significantly exceeding its $75 billion target, resulting in an oversubscription of three-and-a-half to four times.

Priced at $135 a share and targeting a $75 billion raise, the company is likely to close its order books a day early — on Wednesday — to give underwriters time to sort allocations for what is set to be the largest IPO in history.

The listing on Friday, June 12, will value SpaceX at nearly $1.8 trillion, placing it among the 10 most valuable publicly traded firms in the US.

For most investors, SpaceX might seem like a rocket company. In reality, what they are buying into is an Elon Musk conglomerate: three businesses under one roof — core space operations, Starlink, and SpaceXAI.

Here are seven lesser-known facts about the SpaceX IPO:

Share Price

SpaceX skipped the usual IPO playbook. Instead of announcing a price range and letting investor feedback shape the final number — the standard practice — it went straight to a fixed price of $135. That means there is less market-driven signal on whether $135 is actually the right price.

Index Watch

SpaceX will not enter the Nasdaq 100 or S&P 500 on day one. Nasdaq’s new fast-entry rules could allow inclusion as early as 15 trading days after listing. The S&P 500 is a different story — companies must trade for at least 12 months and also turn a profit. SpaceX posted a net loss of $4.94 billion in 2025, even as revenue rose 33% to $18.67 billion, making near-term S&P inclusion unlikely.

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MSCI will apply its early-inclusion rules, with SpaceX eligible to join its Global Standard Indexes just 10 trading days after the June 12 debut. FTSE Russell’s fast-entry rules also make SpaceX eligible for the Russell US Equity Indexes and the FTSE Global Equity Index Series.

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Higher Retail Reservation

One of the most striking aspects of this IPO is that up to 30% of shares have been reserved for retail investors — three to six times the typical 5–10% retail allocation in most large IPOs. SpaceX’s prospectus lists platforms such as Charles Schwab, Fidelity, Robinhood, SoFi, and Morgan Stanley’s E-Trade as channels for retail access. That said, the massive oversubscription means getting your desired allocation at $135 is far from guaranteed.

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Valuation

As the company is currently operating at a loss, forward earnings estimates indicate a P/E ratio exceeding 111 — higher than Tesla, Palantir, or any major publicly listed technology company today. Investors are essentially paying a premium for businesses that do not yet make money. History offers a cautionary tale: Saudi Aramco, the previous record IPO, traded below its listing price for years after its debut.

Lock-ins

Most IPOs have a single 180-day lock-up where all insider shares unlock on the same day — creating a sudden flood of supply. SpaceX has structured this differently, with multiple staggered release windows. Some shares begin unlocking as early as the Q2 earnings report in July–August 2026, and the full unlock happens around December 2026. Musk’s own shares, however, stay locked for a full year — until approximately June 2027.

Voting Power

Musk holds about 42% of SpaceX’s equity but controls 85% of its voting power through a dual-class share structure — his Class B shares carry 10 votes each, versus 1 for public shareholders. In plain terms, no matter how many shares retail investors collectively own, they cannot meaningfully influence any company decision. This creates a real risk of choices that serve Musk’s broader empire over SpaceX’s public shareholders, with limited recourse available.

IPO Subscriptions

The demand has been staggering. SpaceX has attracted over $250 billion in investor interest against a $75 billion target — making it three-and-a-half to four times oversubscribed. To put that in perspective, that is more money chasing this one IPO than the GDP of many mid-sized countries.

Disclaimer: This article provides factual analysis only and is not, and should not be construed as, an offer, solicitation, or recommendation to buy or sell securities. Investment in foreign securities involves significant risks, including currency fluctuations, different financial reporting standards, and varying regulatory environments. SpaceX IPO details, including share price, listing date, and valuation, are based on information available at the time of writing and are subject to change. By their nature, IPOs can be risky and speculative investments, and it is important to read the Form S-1 Registration Statement and the prospectus before taking any investment decision. Investors must conduct their own independent due diligence and seek advice from a registered financial advisor.