SpaceX targets fixed $135 IPO roadshow price at $1.75 trillion valuation, source says

Key points

• Elon Musk's SpaceX is planning to set a fixed price of $135 per share ahead of officially marketing its initial public offering, a person familiar with the matter confirmed to CNBC on Wednesday.
• Typically, at this stage of the process, new issuers will offer a price range that allows a company and its advisers to gauge demand sensitivity at different levels.
• In this case, SpaceX took a more unique approach after a slew of testing-the-waters meetings leading up to the roadshow launch.
• The company plans to sell 555.6 million shares, implying a $75 billion offering size, according to the person, who asked not to be named because the details are private.
• At the $135 per share price tag, SpaceX would be valued at $1.75 trillion, which assumes the EchoStar spectrum and Cursor transactions close.