BREAKINGVIEWS-SpaceX straps bankers to the first autonomous IPO

SpaceX

SpaceX

SPCX

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

By Stephen Gandel

NEW YORK, June 4 (Reuters Breakingviews) - Wall Street seems a mere passenger on the rocket-maker’s flight to a $75 bln debut. Fixing the offer early at $135 a share skips price discovery. Index buying and Elon Musk’s aura serve as propulsion. The risk is that others copy the launch sequence but lack the hype to lift off.

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CONTEXT NEWS

SpaceX, in an updated prospectus filed on June 3, set its listing price at $135 per share.

Unusually, this preceded an investor road show, which launched the following day. The rocket, satellite ​and AI company is targeting a $1.75 trillion valuation.


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