SpaceX to Close IPO Order Books Wednesday as Demand Hits $150 Billion

Lockridge Okoth

Mon, June 8, 2026 astatine 11:56 AM CDT 3 min read

SpaceX volition halt taking orders for its archetypal nationalist offering connected Wednesday aft United States markets close. Demand has already reached astir $150 cardinal for a woody seeking $75 billion.

The full means the offering is astir 2 times oversubscribed. Underwriters present acceptable last allocations and pricing, expected June 11, earlier Nasdaq trading begins.

A Record Listing Takes Shape

The merchantability ranks arsenic the largest IPO connected grounds by the magnitude raised. Elon Musk's rocket and outer steadfast filed its paperwork past month.

The timeline is present tight. Books adjacent Wednesday, pricing follows connected June 11, and SPCX is acceptable to statesman trading connected the Nasdaq connected June 12.

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Musk keeps steadfast power of the institution done the deal. He locked his full involvement for much than a year, a setup explored successful these capitalist lock-up questions.

What Closing the Books Means

The bid books are wherever organization investors taxable requests for shares. Closing them means underwriters halt accepting caller orders and fastener successful full demand.

After Wednesday's close, the banks starring the merchantability acceptable a last price. They besides determine however galore shares each capitalist receives.

Heavy request forces them to chopped galore allocations. Some investors volition person less shares than they asked for, a constituent covered successful Fidelity's eligibility rules.

Why 2x Oversubscribed Looks Modest

Oversubscribed means investors privation much banal than is available. A publication of $150 cardinal against $75 cardinal sits astatine 2 times demand.

That sounds strong, yet blistery offerings often tally 4 oregon 5 times oversubscribed. Reuters reported the figure, which analysts presumption arsenic coagulated but not extraordinary.

Bankers inactive support the level fixed the deal's size. Demand of 2 times for the largest listing ever is harder to scope than for a smaller offering.

Morningstar adds a valuation warning, pegging SpaceX adjacent $780 billion. That sits good beneath the backstage mark, and critics accidental the banal is worthy fractional its valuation.

The grounds debut volition besides skip the index, arsenic elaborate successful this S&P 500 exclusion report.