SpaceX IPO: what pre-IPO investors should know

By Unicorn Private Research. Published and last updated 2026-09-20.

Key takeaways

SpaceX priced its IPO on 11 June 2026 at 135 dollars per share and began trading on Nasdaq as SPCX on 12 June 2026.
The IPO raised 75 billion dollars, or 86 billion after the greenshoe, at a valuation of about 1.77 trillion dollars.
Lock-ups run 366 days for insiders and 180 days, with staggered release, for other pre-IPO investors, according to reporting.
SpaceX is no longer a private company, so it can no longer be bought through pre-IPO channels.

SpaceX completed one of the largest initial public offerings on record in June 2026. For investors who followed the company through the private market, the listing changed both how the shares can be bought and when existing holders can sell.

Key facts

Pricing date	11 June 2026
First trading day	12 June 2026
Exchange and ticker	Nasdaq, SPCX
IPO price	135 dollars per share
Amount raised	75 billion dollars, 86 billion dollars after the greenshoe was exercised
Valuation at IPO	About 1.77 trillion dollars
First-day close	161 dollars per share, up about 19 percent
Lead underwriters	Goldman Sachs and Morgan Stanley, with JPMorgan Chase, Bank of America and Citigroup

The xAI merger

In February 2026 SpaceX acquired xAI, valuing xAI at 125 billion dollars and the combined company at about 1 trillion dollars, which made it the most valuable private company to date at that point. As a result, xAI is no longer a standalone private company that investors can buy separately.

Lock-up periods

Elon Musk and insiders: 366 days.
Other pre-IPO investors: 180 days, with staggered releases permitted after quarterly milestones.

Investors who held SpaceX through a private structure should check the exact terms of their own lock-up, which depend on their agreement and on the prospectus.

What changes after the IPO

Access: the shares trade on a public exchange, so pre-IPO channels no longer apply.
Pricing: the price is set by continuous trading rather than by negotiated private transactions.
Information: SpaceX is now subject to public company reporting obligations.
Liquidity: holders under lock-up still cannot sell until their restrictions lapse.

Lessons for other private companies

The SpaceX case illustrates why timing, transfer restrictions and lock-up terms matter as much as price in pre-IPO investing. The next large candidates for listing, such as OpenAI, Anthropic, Stripe and Databricks, follow their own timelines, and none of them has confirmed an IPO date. See the unicorn tracker for the latest reported valuations.