SpaceX's IPO order book is open, and the early numbers are big.
Investors have placed roughly $150 billion in orders to purchase SpaceX IPO shares. That’s double the $75 billion in stock SpaceX plans to sell with this week’s offering.
Go here to secure your stake now – before the June 12 IPO.
That makes the deal about two times oversubscribed — two dollars of demand for every dollar of stock available.
Let’s say an investor places an order to purchase 100 shares in the SpaceX IPO. That person could expect to get a 50% allocation – or 50 shares of stock.
On the surface, that sounds strong. Here's the issue.
Hot IPOs are typically two to five times oversubscribed. So 2x is really the floor, not the ceiling.
For a deal this size and this high-profile, you'd want to see four or five times demand to support a strong first-day pop.
Being oversubscribed at all is the bare minimum.
The good news for anyone watching closely is that it's only Monday. The order book builds all week, and demand should keep climbing.
Here’s how to buy shares before June 12.
Here's the timeline as it stands.
SpaceX is expected to price the deal on June 11 and begin trading on the Nasdaq on June 12 under the ticker SPCX.
The terms from last week's SEC filing: 555.55 million shares at $135 each, raising $75 billion. That values the company around $1.75 trillion. Musk would retain about 82.4% of the voting power after the listing.
The underwriters are leaning bullish. Morgan Stanley projected Friday that SpaceX could generate $3.4 trillion in revenue by 2040, with AI driving most of the growth. Goldman Sachs sees total revenue topping $474 billion by 2030.
For context, SpaceX reported $18.7 billion in revenue and a $4.9 billion net loss in 2025.
I'll be watching the order book as the week goes on. If demand pushes past three or four times by Wednesday – that sets the stage for a nice first-day pop.
Personally, I’ve already secured a stake in SpaceX using this little-known backdoor. Plus, I’ve placed an order to purchase IPO shares directly through my broker.
Ian Wyatt
Editor, IPO Watch