SpaceX Files Revised Prospectus Ahead of June 12 Listing; Merger with Tesla Could Dilute Existing Shareholders by ~90%

According to Fortune, SpaceX filed a revised prospectus with the U.S. Securities and Exchange Commission earlier this week, setting the initial public offering price at $135 per share and planning to issue approximately 555.6 million Class A shares with a total valuation of about $1.77 trillion. The company is expected to list on Nasdaq under the ticker "SPCX" as early as June 12.

Market speculation about a potential merger between SpaceX and Tesla has intensified. Wedbush analyst Dan Ives placed the probability of a merger at 80%, while New Constructs CEO David Trainer suggested the combination is "almost inevitable." If the merger proceeds at current valuations—Tesla at approximately $1.65 trillion and SpaceX at $1.77 trillion—SpaceX would need to issue new shares equivalent to roughly 90% of its current outstanding stock to complete the acquisition. The combined entity would be valued at approximately $3.3 trillion, though analysts warn the merged company faces significant profitability challenges.