SpaceX Plans Record Stock Market Debut Next Week
SpaceX plans to go public on the stock market next week. The company is valued at $1.77 trillion.
SpaceX set its share price at $135 each. This was announced earlier than expected.
The company plans to list on Nasdaq under the name SPCX on June 12. SpaceX aims to raise up to $75 billion from the listing.
This would make it the largest stock market debut in history. It would be more than three times bigger than the previous record. Elon Musk will keep 82.4% voting control after the listing.
Klear Note — Going public means a company sells shares to regular people on stock market. This lets the company raise money and lets people own small pieces of it.
Key Terms 4
- go public When a company sells shares to the public for the first time
- valuation The total estimated worth of a company
- Nasdaq A major US stock market where tech companies are listed
- voting control Power to make key decisions about how a company is run