HEY, BIG SPENDER: SpaceX tells banks it won’t move its $135-a-share IPO price.
SpaceX told banks in its $75 billion initial public offering that it is set on the $135-a-share price that the firm disclosed on Wednesday in its amended IPO filing, sources told Reuters.
The company’s decision is the latest sign that Elon Musk is intent on holding the largest ever initial offering according to his preferences, upending Wall Street tradition — though sources stressed that the decision is subject to change before the IPO takes place. SpaceX didn’t immediately respond to a request for comment.
SpaceX began meeting with investors on Thursday in its IPO roadshow – where securities issuers and their bankers typically gather investor feedback before determining the final IPO price at a meeting held a day before the shares begin trading.
Needless to say, the company’s orbital AI data centers require a lot of cash.