(RTTNews) - Much-awaited shares of Space Exploration Technologies Corp. (SPCX) have finally begun trading on the Nasdaq at $135 per share following the company's initial public offering (IPO) of 555.56 million Class A common shares, priced at $135 each. However, a recent Wall Street Journal report suggests that the stock's opening price could be revised upward to between $170 and $175.
The Texas-based company raised a record-breaking $75 billion through the IPO, achieving a market capitalization of approximately $1.77 trillion. The milestone makes SpaceX the seventh most valuable company in the United States and turns its Chief Executive Officer, Elon Musk, into the world's first trillionaire.
As part of the offering, which is expected to close on June 15, SpaceX has granted underwriters a 30-day option to purchase up to an additional 83.33 million Class A common shares at the IPO price.
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