SpaceX's IPO and Nasdaq Debut (SPCX)

Space Exploration Technologies Corp. priced its initial public offering on June 11, 2026, and the Class A shares opened on Nasdaq the next day under the ticker SPCX. The share count and the offering price are in the company’s release and in the prospectus. The first-day high, the close, and the “largest ever” comparison are what outlets reported. They are not a second set of company figures.

This page is the receipt. The October 19 pledge to give shares to children is a later sentence: one share for every kid. Talk of a combination with Tesla is merger talk. The company is SpaceX.

The offering, in the company’s own papers

The pricing release, dated June 11, 2026, says SpaceX priced 555,555,555 shares of Class A common stock at $135.00 a share. It says the shares were expected to begin trading on the Nasdaq Global Select Market and on Nasdaq Texas on June 12, 2026, under SPCX, and that the offering was expected to close on June 15, 2026, subject to customary conditions. It says the company granted the underwriters a 30-day option to buy up to 83,333,333 additional Class A shares at the offering price. It says a registration statement was declared effective by the SEC on June 11, 2026.

The book-running managers named in that release are Goldman Sachs & Co. LLC, Morgan Stanley, BofA Securities, Citigroup, J.P. Morgan, Barclays, Deutsche Bank Securities, RBC Capital Markets, UBS Investment Bank, and Wells Fargo Securities.

Label: Company release. It states a share count and a price. It does not print a dollar total, and it does not say the underwriters’ option was exercised.

The prospectus, filed June 12, 2026, as a 424B4 (accession 0001628280-26-042639, file number 333-296070), is dated June 11, 2026. The cover says the issuer is a Texas corporation, offering 555,555,555 Class A shares at $135.00. The cover table prints:

A footnote says the underwriters will not receive a discount or commission on shares sold under the over-allotment option. The option is up to 83,333,333 additional shares, for 30 days, at the offering price. The cover also says that, at the company’s request, the underwriters reserved up to five percent of the shares offered for sale at the offering price to certain employees and to persons identified by executive officers. The shares were to be ready for delivery on or about June 15, 2026.

Label: The prospectus table. $74,999,999,925 is the gross offering price of the base deal, before the option. Nasdaq’s newsroom account and CNBC’s June 11 story both call the raise $75 billion. That is their description of this table. It is not a different measurement.

The cover says each Class A share has one vote and each Class B share has ten. It says that, at the offering size and price on the cover, Mr. Musk will hold approximately 82.4 percent of the voting power immediately after the offering, or approximately 82.3 percent if the option is exercised in full, through Class A and Class B shares, of which approximately 81.1 percent is attributable to the Class B. A later section states the share counts behind that sentence: 849,494,440 Class A shares and 5,219,053,075 Class B shares, about 91.6 percent of the Class B. The Class B figure includes 1,302,072,285 restricted Class B shares issued to him, which he may vote, and whose vesting is subject to performance and other conditions. The prospectus says the company expects to be a “controlled company” under Nasdaq rules.

Label: The prospectus, as of the offering. Voting power is not the same thing as an economic percentage. The restricted shares are included in the voting description. They are not shares the prospectus says have vested.

The capitalization table’s “pro forma as adjusted” column prints 7,380,196,910 Class A shares issued and outstanding. The share-count note says the post-offering figures are based on 6,824,641,355 Class A shares and 5,695,668,265 Class B shares outstanding as of March 31, 2026, after the reclassifications the note describes. CNBC’s June 12 live blog states a combined 13,075,865,175 Class A and Class B shares without the overallotment, and it calls the IPO valuation $1.77 trillion. Nasdaq’s newsroom piece says the offering produced an “unprecedented implied valuation of approximately $1.77 trillion.” CNBC’s June 11 story uses the same $1.77 trillion.

Label: Nasdaq’s and CNBC’s implied valuation at the $135 price. The prospectus cover does not print $1.77 trillion. The live blog’s combined share count is the figure that lines up with the prospectus counts above. This page does not publish a fresh multiplication.

For 2025, the prospectus states consolidated revenue of $18,674 million, and a net loss of $(4,937) million. For the three months ended March 31, 2026, it states revenue of $4,694 million and a net loss of $(4,276) million. It states an accumulated deficit of $41,311 million as of March 31, 2026. Nasdaq’s “$18.67 billion” is that 2025 revenue, rounded.

Label: The prospectus. A loss is not cash raised in the offering.

First day of trading

Nasdaq’s June 12 newsroom piece says SPCX opened at $150, an 11 percent increase over the $135 offering price, and calls the deal the largest initial public offering in Wall Street history. It quotes Gwynne Shotwell at the Times Square ceremony, including “We’re about 22,000 strong,” and it quotes Mr. Musk at Starbase: “A little company that started in a warehouse in El Segundo is now going public with the largest IPO ever.”

Label: Nasdaq’s account of the open and of the ceremony. “About 22,000” and “the largest IPO ever” are in those quotations as Nasdaq prints them.

CNBC, June 13 (Tobias Burns) says the stock opened at $150, reached a high of $176.52, and settled at $160.95. It says that close was nearly 20 percent above $135. It says more than 500 million shares traded, and that the closing price put the first-day market capitalization over $2.1 trillion. It says the shares continued higher after the close and reached $166.85. The same day’s live blog says that at 6:30 p.m. ET the after-hours price was $166.76, after a $160.95 close, and that the move added about another $80 billion, to $2.2 trillion.

Label: CNBC. The two after-hours prints are two timestamps in two CNBC accounts. This page does not pick one as the official extended close. The $160.95 regular-session close is the figure both accounts use.

A Reuters market wrap, carried by Yahoo Finance (Caroline Valetkevitch and Johann M. Cherian, datelined June 12), says the shares closed up 19.2 percent at $160.95, above the $135 offering price, and that the market capitalization was last at $2.1 trillion. It calls the debut Wall Street’s biggest public listing in history.

Label: Reuters, as Yahoo Finance carried that wrap. The 19.2 percent and the $160.95 are that story’s. They match CNBC’s close. They are not a company print.

Two Reuters URLs for the debut itself, the June 12 “after record IPO” story and the “opens trading at $150” story, returned 401 on October 19, 2026. This page does not adopt headlines from those unread stories. The Aramco comparison is a different outlet. KQED, carrying NPR (John Ruwitch, June 11, 2026), says the listing “blows past” Saudi Aramco, “whose 2019 listing netted $29.4 billion.” Label: NPR, via KQED. The $29.4 billion is that story’s figure for Aramco, not a figure this desk recomputed from Aramco’s prospectus. The same KQED story also says SpaceX’s valuation “soared to around $1.75 trillion.” That rounding is not the $1.77 trillion Nasdaq and CNBC use, and it is not the figure used here.

The BBC’s October 19 story on a later share pledge prints an IPO raise of $85.7 billion. That number is not the $74,999,999,925 in the prospectus table. It is not used as the amount raised. The underwriters’ option is stated in the prospectus as an option. This page does not say it was exercised.

The xAI combination, as far as the prospectus goes

The prospectus says the financial statements were retrospectively recast to include X.AI Holdings Corp., acquired by SpaceX effective February 2, 2026 (the “xAI Merger”), and X Holdings Corp., acquired by xAI effective March 28, 2025 (the “X Merger”), because the transactions were between entities under common control. It also describes a five-for-one stock split of the Class A, Class B, and Class C common stock, effective May 4, 2026. It says the AI segment is the business acquired with xAI in February 2026, and that it includes AI compute, Grok, and X.

Label: The prospectus. Effective dates in a common-control recast are the company’s accounting description. They are not a new announcement on this page. The company’s February 2, 2026 post is xAI joins SpaceX. The xAI hub still treats later naming as something to pin to a primary document. Fox Business, in an October 4, 2026 story about a rename, prints a deal value and a July creation date for a “SpaceXAI” unit that this prospectus passage does not. Those Fox figures are not used here.

What’s next

On October 16, 2026, SpaceX said it will post financial and operational results for the third quarter of 2026 after the market close on Tuesday, October 20, 2026. The release says management will host a live audio-only webcast at 3:30 p.m. CT / 4:30 p.m. ET that day, that the webcast and replay will be at ir.spacex.com, and that the event will be livestreamed on X @SpaceX.

Label: A schedule. The results are not in that release. This page does not report them. Queue item 63 stays open for the results release.

The same week’s pledge, which is not an offering, is one share for every kid. No Tesla combination has been announced. That record is merger talk.

On the map

SpaceX is the company. Starlink is the connectivity business the prospectus folds into the consolidated numbers. The February acquisition post is xAI joins SpaceX. The October 4 naming posts are SpaceXAI to SpaceXSI.

Sources

Checked October 19, 2026.

The two Reuters debut URLs returned 401. Their headlines are not used. A BBC $85.7 billion raise, printed in an October 19 pledge story, is not the prospectus total.