GoKawiilElon 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 asked not to be named 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 to debut at the Nasdaq on June 12.