SpaceX priced its shares at $135 each on June 11, 2026, offering 555.6 million shares for public trading. The stock opened on the Nasdaq Global Select Market and Nasdaq Texas on June 12 under ticker SPCX, closing the first day at $160.95 — a 19.2% gain over the offer price.

This was the largest IPO by float size in history as of June 2026, according to Reuters, eclipsing Saudi Aramco's 2019 listing. By market value, SpaceX ranked sixth among all public companies at the end of its first trading session. The company confirmed the offering's close, including full exercise of the underwriters' overallotment option, on June 15, 2026, via its investor relations page.

The Numbers in Context

The $135 offer price multiplied by 555.6 million shares yields approximately $75 billion in proceeds before the greenshoe exercise — the underwriters' contractual right to purchase additional shares to stabilize pricing. With that option fully exercised, the total take is larger. An opening close of $160.95 means institutional investors who received shares at the offer price held paper gains of roughly $26 per share by end of day. For a deal of this magnitude, that first-day pop is notable; most mega-cap IPOs are priced to keep early trading relatively subdued.

The dual listing across both Nasdaq Global Select Market and Nasdaq Texas deserves attention. Nasdaq Texas launched to establish exchange infrastructure in a jurisdiction with lighter regulatory oversight, and SpaceX is now its most prominent tenant.

What Shifts for SpaceX

For most of its existence, SpaceX financed growth through NASA and Department of Defense contracts, Starlink subscription revenue, and periodic private fundraising rounds at climbing valuations. Going public fundamentally restructures the company's access to capital: it gains a liquid instrument for acquisitions and equity-based employee compensation, but trades that privacy for quarterly earnings disclosure and the securities law obligations that have, with Tesla, defined much of Elon Musk's public relations landscape.

The prospectus filed with BaFin (the German financial regulator) on June 6, 2026, was structured to reach European institutional investors — a signal of the scope of demand-building behind this deal.

Arriving at the sixth-largest public company valuation on day one places SpaceX alongside firms that took decades to accumulate comparable market cap. That velocity reflects the underlying business: Starlink operates thousands of low-Earth-orbit satellites with subscribers across consumer, enterprise, and government segments. The launch cadence — Falcon 9, Falcon Heavy, and the still-maturing Starship — controls a dominant fraction of global orbital launch activity.

For the market more broadly, the absorption of a $75-billion-plus offering without visible price disruption signals substantial depth in global equity markets. The fact that demand supported the $135 offer and then bid it to $160.95 suggests the order book was heavily oversubscribed. That matters for every large private company in aerospace, AI infrastructure, and defense technology now considering a public exit.

The operating reality ahead is worth examining. Private companies absorb a failed Starship test or a Starlink margin shortfall without visible stock reaction. Public ones do not. That feedback loop will be new for a firm that has operated largely on its own terms, and how management navigates quarterly accountability will shape the company's engineering and business culture in ways we have not yet seen.