Board Restructuring Ahead of Record IPO.. SpaceX Targets Global Capital Markets

SPACE EXPLORATION TECHNOLOGIES CORP (SPCX) entered into a global underwriting agreement on June 11 to issue approximately 550 million shares of Class A common stock, led by a syndicate including Goldman Sachs, Morgan Stanley, Bank of America, Citi, J.P. Morgan and Deutsche Bank, marking a major capital-raising initiative. The company meticulously structured the offering to run simultaneously in the U.S., Japan, Canada, key European markets, Switzerland, Australia and the U.K., and established separate allocation programs for employees and designated investors. On June 16, the board bolstered its financial, investment and governance expertise by appointing Roelof Botta, a long-time partner at Sequoia Capital, as an independent director and audit committee member.

On June 11, SpaceX set its IPO price at $135 per share and completed what has become the largest public offering in history, raising about $75 billion (roughly ₩100 trillion). The company’s shares began trading on June 12 under the ticker SPCX on both the Nasdaq Global Select Market and Nasdaq Texas. Shares jumped nearly 20% above the offering price on the first day, reflecting strong investor demand.

Founded by Elon Musk, SpaceX is a leading U.S. private aerospace, satellite and artificial intelligence company that has captured a significant share of the American launch market with its reusable rockets and Starlink satellite internet service. Analysts say this record-breaking IPO equips SpaceX with capital on par with major U.S. tech firms, positioning it to compete in next-generation space industries, including its super heavy-lift Starship vehicle, global satellite communications network and AI infrastructure investments.