SpaceX Price Tag is 'Very Steep': Renaissance's Kennedy

SpaceX is offering 555.6 million shares at a fixed price of $135 each, a move that Renaissance Capital's senior strategist Matt Kennedy described as a "very steep" price tag. This initial public offering (IPO) is slated to begin trading on June 12 and is projected to raise approximately $75 billion. If successful, this offering would surpass Saudi Aramco's $29.4 billion listing in 2019, making it the largest IPO in history. Kennedy discussed these details with Matt Miller on "Bloomberg Deals," highlighting the significant valuation SpaceX is seeking through this public offering. The company's decision to set a fixed price for such a large volume of shares indicates a strong confidence in its market position and future growth prospects, despite the high entry cost for potential investors.