SpaceX has attracted $250 billion in investor interest for its planned initial public offering, making the deal nearly four times oversubscribed. The company set a fixed price of $135 per share, valuing it at around $1.8 trillion.
The offering, expected to raise $75 billion, will proceed on a fixed-price basis without the usual bookbuild adjustments. Reuters reported the strong demand figures ahead of the shares going live on traditional markets this week. Pre-IPO price discovery is occurring on crypto platforms. A 5x-leveraged perpetual contract on Hyperliquid, ticker SPCX, trades around $157 after falling 27 percent from its mid-May levels near $216. It still implies a roughly 16 percent first-day premium over the $135 offer price. Robinhood has gained approval to underwrite IPOs as SpaceX tests retail participation. Blockchain.com has also launched a SpaceX-linked perpetual contract for institutional trading ahead of the listing.
