SpaceX targets fixed $135 IPO roadshow price at $1.75 trillion valuation, source says

SpaceX founder Elon Musk addresses members of the media during a press conference announcing new developments of the Crew Dragon reusable spacecraft, at SpaceX headquarters in Hawthorne, California on October 10, 2019. Philip Pacheco | Afp | Getty Images Elon Musk 's SpaceX is planning to set a fixed price of $135 per share ahead of officially marketing its initial public offering , a person familiar with the matter confirmed to CNBC on Wednesday. Typically, at this stage of the process, new issuers will offer a price range that allows a company and its advisers to gauge demand sensitivity at different levels. In this case, SpaceX took a more unique approach after a slew of testing-the-waters meetings leading up to the roadshow launch. The company plans to sell 555.6 million shares, implying a $75 billion offering size, according to the person, who spoke on condition of anonymity because the details are private. At the $135 per share price tag, SpaceX would be valued at $1.75 trillion, which assumes the EchoStar spectrum and Cursor transactions close. Reuters earlier reported the pricing details. The valuation would make SpaceX the seventh-biggest company in the U.S. and put it above Tesla , which has a market cap of about $1.6 trillion. Musk's company is planning on debuting at the Nasdaq on June 12. spaceX, which will go public under the ticker symbol SPCX, is set to be the biggest IPO ever , more than triple the size of Alibaba, which is the biggest U.S. IPO to date. …