Space Company Soars with Record IPO, Secures Global Offering Agreement

Space Exploration Technologies Corp. (SPCX) entered into an underwriting agreement on June 11 with a syndicate led by Goldman Sachs, Morgan Stanley, Bank of America, Citigroup, JPMorgan and Deutsche Bank for a public offering of its Class A common stock. Through this deal, the company aims to raise equity capital in the billions of dollars—approximately KRW 100 trillion—including the underwriters’ option to purchase additional shares. The offering is structured as a global transaction, to be conducted concurrently in Japan, Canada, various European countries, Switzerland, Australia and the UK. A separate allocation has been reserved for employees and designated company participants, and comprehensive representations and warranties cover corporate governance, financials, internal controls, sanctions and anti-corruption compliance, intellectual property, data security, environmental and launch-services regulation, and government-contract compliance.

Meanwhile, SpaceX’s initial public offering on Nasdaq under the ticker SPCX, priced at $135 per share, raised roughly $75 billion (around KRW 100 trillion), marking the largest IPO in U.S. history. On its first day of trading, the stock jumped nearly 20%, lifting the company’s market capitalization to about $2 trillion (roughly KRW 2,700 trillion).

Founded by Elon Musk in 2002, SpaceX is a U.S. private aerospace and satellite-communications company that operates the Falcon series rockets, the Dragon spacecraft and the Starlink satellite-internet network, simultaneously conducting commercial launches, satellite communications and defense and government projects. As the privately led “New Space” market expands, SpaceX’s IPO—fusing rocket reusability with satellite internet and AI infrastructure—is viewed as a landmark event for the global space and communications industry and the U.S. technology IPO market.