New york: Elon Musk's SpaceX raised a record $75 billion in the largest initial public offering, taking the space, satellite, and AI conglomerate's value to $1.77 trillion. The company announced on Thursday that 555.56 million shares of its Class A common stock were priced at $135 each.

According to Anadolu Agency, the shares are expected to begin trading Friday on the Nasdaq Global Select Market and Nasdaq Texas under the ticker symbol 'SPCX.' The offering is anticipated to close on June 15, subject to customary closing conditions. SpaceX also provided underwriters with a 30-day option to purchase up to an additional 83.33 million Class A shares at the IPO price.

Goldman Sachs, Morgan Stanley, BofA Securities, Citigroup, J.P. Morgan, Barclays, Deutsche Bank Securities, RBC Capital Markets, UBS Investment Bank, and Wells Fargo Securities are serving as book-running managers for the offering. The US Securities and Exchange Commission declared the registration statement related to the Class A shares effective on June 11, as noted in the company's final prospectus announcement.

Founded in 2002, SpaceX designs, manufactures, launches, and operates rockets, spacecraft, and related technologies across space, connectivity, and artificial intelligence, according to the company.