per share issuance price · Historical table snapshot · Dec 31, 2025
SEC · SpaceX filing ↗Note 13, Redeemable Convertible Preferred Stock and Shareholders’ Equity, pp. F-39–F-41: Initial Price Per Share and Conversion Rights
CapitalTime MachineSpace, connectivity & AI
SpaceX combines launch services, Starlink connectivity and AI infrastructure. Explore 14 historical preferred-series prices, the documented conversion to common shares, and dated public-company research.
Original preferred units → 50 common-share equivalents. Both historical splits are included once. The table date is not your purchase date.
Choose an IPO milestone or enter your own dated stock price to extend a reviewed pre-IPO scenario.
HYPOTHETICAL SHARE VALUE
Hypothetical value of $10,000.00 at the reported share price
$250,000.00IPO offer-price mark · IPO pricing date: Jun 11, 2026
Illustrative paper value. Historical investment minimums and your eligibility are not verified. Excludes fund fees, carried interest, taxes and distributions; no sale is assumed.
BEHIND THE NUMBERS
This scenario applies the stated share prices and conversion assumptions to your chosen amount. The result is a hypothetical value, not a completed transaction.
Original preferred-share units: $1 invested buys 1 ÷ the published initial preferred price units. Note 13 states 50 common shares per preferred share after the May 4, 2026 split. The 2022 10-for-1 common split and 2026 5-for-1 common split are already included in this factor; do not multiply again. Class B converts 1:1 to Class A. The June 15 8-K confirms preferred conversion at IPO. No holder-specific adjustment, investment access, fees, taxes, or sale is assumed. Purchase dates are unknown, so no CAGR is calculated.
Calculation: amount ÷ reviewed preferred issuance price × assumed conversion factor × IPO offering price.
per share issuance price · Historical table snapshot · Dec 31, 2025
SEC · SpaceX filing ↗Note 13, Redeemable Convertible Preferred Stock and Shareholders’ Equity, pp. F-39–F-41: Initial Price Per Share and Conversion Rights
public offer price per share · IPO pricing date · Jun 11, 2026
SEC · SpaceX filing ↗Final prospectus cover: $135 per Class A common share; dated June 11, 2026. June 15 closing confirmed in 8-K Item 8.01.
Published price precision is retained in calculations. A filing snapshot is not necessarily the investment date. These selected companies and stages do not represent typical private-market results; investments can lose their entire value.
Understand the assumptions behind each result. How the calculations work →
SPACEX · SPCX
Requested SEC S-1/A prospectus ↗ · Final IPO prospectus ↗ · Q2 2026 Form 10-Q ↗
Series A–N use initial preferred-share prices. Each original preferred share maps to 50 common-share equivalents. A-1 and B-1 are transfer variants, so they are evidence only.
The final prospectus supplies the historical offering price. The June 1 amendment left it blank. For a later scenario, enter your own dated Class A share price above.
The model assumes the holding survives to conversion. Exact purchase dates and investment access are unknown. Fees, taxes, selling restrictions and actual exits are not modeled.
2024–2025 and Q2 figures reflect the issuer’s consolidated reporting, including the retrospective combination of X and xAI under common control. Q2 2026 is unaudited. Annual and quarterly periods are not directly comparable. No live price or present market capitalization is supplied.
| Metric | Period | Reported value | Source |
|---|---|---|---|
| Revenue | FY 2024 | $14.015B | Final IPO prospectus ↗ MD&A: 2025 versus 2024 results |
| Revenue | FY 2025 | $18.674B | Final IPO prospectus ↗ Consolidated Statements of Operations |
| Net loss | FY 2025 | −$4.937B | Final IPO prospectus ↗ Consolidated Statements of Operations |
| Revenue | Q2 2026 | $7.814B | Q2 2026 Form 10-Q ↗ Consolidated Statements of Operations, three months ended June 30 |
| Operating loss | Q2 2026 | −$143M | Q2 2026 Form 10-Q ↗ Consolidated Statements of Operations, three months ended June 30 |
| Net loss | Q2 2026 | −$541M | Q2 2026 Form 10-Q ↗ Consolidated Statements of Operations, three months ended June 30 |
| Capital expenditures | Q2 2026 | $18.369B | Q2 2026 Form 10-Q ↗ Note 18: supplemental segment information; not cash-flow-statement PP&E purchases |
| Cash and cash equivalents | June 30, 2026 | $93.522B | Q2 2026 Form 10-Q ↗ Consolidated Balance Sheets; excludes marketable securities and restricted cash |
| Starlink subscribers | June 30, 2026 | 12.0M | Q2 2026 Form 10-Q ↗ MD&A: unique service lines; excludes managed enterprise and government contracts |
| Segment | Revenue | Operating profit / loss | Business |
|---|---|---|---|
| Space | $962M | −$542M | Launch services, spacecraft and development programs. |
| Connectivity | $4.291B | $1.656B | Starlink consumer, enterprise and government connectivity. |
| AI | $2.561B | −$1.257B | Grok, X, compute infrastructure and AI services; Q2 predates the Cursor closing. |
Capital expenditures follow the segment disclosure and are not the same measure as cash purchases of property, plant and equipment. Cash and cash equivalents exclude restricted cash and marketable securities.
More than $9B · Cumulative equity capital raised
Issuer-reported aggregate for Space and Connectivity since founding; not a per-round valuation and not total capital raised by the combined AI group.
Requested SEC S-1/A prospectus ↗ · MD&A / Business: capital efficiency and equity funding since founding
$1.00–$270.00 · Initial price per original preferred share
Series A–N plus A-1 and B-1 transfer variants. Outstanding balances and liquidation preferences are not original round amounts or company valuations. Exact issuance dates are not established by this table.
Requested SEC S-1/A prospectus ↗ · Note 13, Initial Price Per Share, pp. F-39–F-41
$920M / $522M · Company cash spent on shareholder liquidity
These are aggregate common-share buybacks, not new capital raised. The filing separately reports $101M of preferred repurchases in 2024. Do not infer a uniform tender price from rounded aggregate share counts.
Requested SEC S-1/A prospectus ↗ · Note 13: SpaceX Share Repurchases, p. F-44
$2B commitment · Investment originating in xAI Series E
The xAI commitment converted into the right to SpaceX Class A stock; 3.8 million pre-May-split shares were issued. Rounded shares do not support an exact purchase price. This is separate from original SpaceX Series A–N.
Requested SEC S-1/A prospectus ↗ · Note 21: Tesla’s xAI Investment and SpaceX Class A Common Stock Issuance, p. F-61
$85.675B net proceeds · Equity capital raised after issuance costs
$135 per share; 638,888,888 shares including the full underwriters’ option. Net proceeds belong to the issuer, not modeled early investors. The final prospectus’s base offering excludes this option.
Q2 2026 Form 10-Q ↗ · Note 1: Initial Public Offering; use of proceeds
$60B Cursor equity value · Acquisition consideration basis
389,289,254 SpaceX shares for Cursor stock plus 1,752,426 for vested RSUs; unvested awards assumed separately. This expands SpaceX’s equity base and business scope; it is not a SpaceX fundraising valuation.
Cursor acquisition completion 8-K ↗ · Item 2.01: completion of acquisition
The complete preferred-price ladder appears in Financial observations & original sources below. These selected disclosures are not a complete record of every financing or secondary trade.
In Q2, Connectivity’s $1.656B operating profit offset part of the losses in Space and AI. Segment operating results should not be confused with adjusted EBITDA.
Q2 segment capital expenditures totaled $18.369B, including $15.828B for AI. The large cash balance follows equity and debt financing; it is not evidence that operating cash generation funds all spending.
Starship, orbital computing and lunar or Mars development are projects and ambitions. They are not recognized revenue, contracted returns or a guaranteed valuation path.
xAI and Cursor expand the business and share count. The calculator follows an assumed original shareholding; it does not hold ownership percentage constant or turn company valuation growth into investor returns.
Q2 2026 Form 10-Q ↗ · Cursor acquisition completion 8-K ↗
Note 13, pp. F-37–F-41; business and risk sections
Cover; Note 13; Description of Capital Stock
Items 3.02 and 8.01
Financial statements; Notes 1, 12 and 18; MD&A
Items 2.01 and 3.02
WHEN YOU WANT TO GO DEEPER
Fourteen preferred-series models use published initial prices and one 50:1 conversion to common-share equivalents. Explore the $135 IPO mark or enter your own dated Class A price. Table dates are not purchase dates; actual investor proceeds remain unknown.
$135.00 per share at the historical IPO offering. An offer-price mark is not an executed sale. You can also enter a public price within the reviewed date window.
Your amount is hypothetical. The evidence does not establish your investment minimum, eligibility or ability to sell.
SpaceX combines launch services, Starlink connectivity and AI infrastructure. Explore 14 historical preferred-series prices, the documented conversion to common shares, and dated public-company research.
The financing record now includes Series A–N initial preferred prices, two transfer variants, the common-share conversion and the final IPO offering price. Business reporting changed with the xAI combination: historical consolidated results include X and xAI under common-control accounting. They are not standalone legacy SpaceX results.
SEC S-1/A prospectus · June 1, 2026 ↗ · Note 13, pp. F-37–F-41; final prospectus and subsequent filings linked in the research below.
The later preferred-to-common conversion factor includes this common-stock split.
Source ↗xAI, including X, becomes a subsidiary. Historical financials are retrospectively combined under common-control accounting.
Source ↗Preferred conversion rates adjust; the prospectus states 50 common shares per original SpaceX preferred share after this split.
Source ↗638,888,888 Class A shares sold at $135, including the full underwriters’ option. Q2 reporting records $85.675 billion net proceeds.
Source ↗Quarter ended June 30: $7.814 billion revenue, $541 million net loss and 12.0 million Starlink subscriber service lines.
Source ↗Anysphere becomes a subsidiary in a transaction based on a $60 billion implied Cursor equity value. This is an acquisition value, not SpaceX’s valuation.
Source ↗Historical context reviewed Sep 28, 2026. Business milestones are separate from the financial observations used by the calculator.
Selected reviewed stages, not a complete fundraising history. The same hypothetical amount is used in every row. Private investments can lose all their value.
| Preferred series | Private issuance price | Illustrated amount | Explore |
|---|---|---|---|
| Series N | $270.00 | $250,000.00 | Try this stage → |
| Series M | $220.00 | $306,818.18 | Try this stage → |
| Series L | $214.00 | $315,420.56 | Try this stage → |
| Series K | $204.00 | $330,882.35 | Try this stage → |
| Series J | $186.00 | $362,903.23 | Try this stage → |
| Series I | $169.00 | $399,408.28 | Try this stage → |
| Series H | $135.00 | $500,000.00 | Try this stage → |
| Series G | $77.46 | $871,417.51 | Try this stage → |
| Series F | $7.50 | $9,000,000.00 | Try this stage → |
| Series E | $4.50 | $15,000,000.00 | Try this stage → |
| Series D | $3.88 | $17,396,907.22 | Try this stage → |
| Series C | $3.00 | $22,500,000.00 | Try this stage → |
| Series B | $2.00 | $33,750,000.00 | Try this stage → |
| Series A | $1.00 | $67,500,000.00 | Try this stage → |
Each row applies that series’ reviewed split and conversion treatment. No sale, fees or taxes are assumed.
Starship execution, heavy AI infrastructure spending, financing needs, customer concentration, regulation and founder voting control all matter. Cursor adds integration risk and newly issued shares. A growing company valuation does not by itself establish a shareholder return.
CTM interpretation of the linked history and financing evidence; not a complete risk assessment.
Series A–N initial preferred prices support approximate IPO offer-price marks using a reviewed 50:1 common-share conversion. A-1 and B-1 are transfer variants shown for context only. You may enter a dated Class A price; later share-basis changes remain an explicit assumption. No exact purchase dates, complete round valuations, actual allocations or realized sale proceeds are established.
Additional rounds need their own issuance evidence, share-basis review and conversion terms before they can become calculator choices.
Added 16 preferred-price observations, 14 calculator paths, the $135 IPO endpoint, dated entered-price scenarios, Q2 financials and the completed Cursor acquisition.
Review dates describe our research. They do not turn historical prices into current quotes.Historical table snapshot
$1.00 USD
Per original preferred share · USD
Initial price per original SpaceX preferred share, not a company valuation or a common-share quote. The December 31, 2025 table is a snapshot, not an investment date. Each preferred share converts to 50 common-share equivalents after the 2026 split. The calculator applies that factor once; original purchase dates and access are unknown.
Primary source checked
Historical table snapshot
$1.00 USD
Per original preferred share · USD
Initial price per original SpaceX preferred share, not a company valuation or a common-share quote. The December 31, 2025 table is a snapshot, not an investment date. Transfer variant of Series A: the filing does not establish a separate fundraising round or a price actually paid by a transferee; no calculator entry is enabled.
Primary source checked
Historical table snapshot
$2.00 USD
Per original preferred share · USD
Initial price per original SpaceX preferred share, not a company valuation or a common-share quote. The December 31, 2025 table is a snapshot, not an investment date. Each preferred share converts to 50 common-share equivalents after the 2026 split. The calculator applies that factor once; original purchase dates and access are unknown.
Primary source checked
Historical table snapshot
$2.00 USD
Per original preferred share · USD
Initial price per original SpaceX preferred share, not a company valuation or a common-share quote. The December 31, 2025 table is a snapshot, not an investment date. Transfer variant of Series B: the filing does not establish a separate fundraising round or a price actually paid by a transferee; no calculator entry is enabled.
Primary source checked
Historical table snapshot
$3.00 USD
Per original preferred share · USD
Initial price per original SpaceX preferred share, not a company valuation or a common-share quote. The December 31, 2025 table is a snapshot, not an investment date. Each preferred share converts to 50 common-share equivalents after the 2026 split. The calculator applies that factor once; original purchase dates and access are unknown.
Primary source checked
Historical table snapshot
$3.88 USD
Per original preferred share · USD
Initial price per original SpaceX preferred share, not a company valuation or a common-share quote. The December 31, 2025 table is a snapshot, not an investment date. Each preferred share converts to 50 common-share equivalents after the 2026 split. The calculator applies that factor once; original purchase dates and access are unknown.
Primary source checked
Historical table snapshot
$4.50 USD
Per original preferred share · USD
Initial price per original SpaceX preferred share, not a company valuation or a common-share quote. The December 31, 2025 table is a snapshot, not an investment date. Each preferred share converts to 50 common-share equivalents after the 2026 split. The calculator applies that factor once; original purchase dates and access are unknown.
Primary source checked
Historical table snapshot
$7.50 USD
Per original preferred share · USD
Initial price per original SpaceX preferred share, not a company valuation or a common-share quote. The December 31, 2025 table is a snapshot, not an investment date. Each preferred share converts to 50 common-share equivalents after the 2026 split. The calculator applies that factor once; original purchase dates and access are unknown.
Primary source checked
Historical table snapshot
$77.46 USD
Per original preferred share · USD
Initial price per original SpaceX preferred share, not a company valuation or a common-share quote. The December 31, 2025 table is a snapshot, not an investment date. Each preferred share converts to 50 common-share equivalents after the 2026 split. The calculator applies that factor once; original purchase dates and access are unknown.
Primary source checked
Historical table snapshot
$135.00 USD
Per original preferred share · USD
Initial price per original SpaceX preferred share, not a company valuation or a common-share quote. The December 31, 2025 table is a snapshot, not an investment date. Each preferred share converts to 50 common-share equivalents after the 2026 split. The calculator applies that factor once; original purchase dates and access are unknown.
Primary source checked
Historical table snapshot
$169.00 USD
Per original preferred share · USD
Initial price per original SpaceX preferred share, not a company valuation or a common-share quote. The December 31, 2025 table is a snapshot, not an investment date. Each preferred share converts to 50 common-share equivalents after the 2026 split. The calculator applies that factor once; original purchase dates and access are unknown.
Primary source checked
Historical table snapshot
$186.00 USD
Per original preferred share · USD
Initial price per original SpaceX preferred share, not a company valuation or a common-share quote. The December 31, 2025 table is a snapshot, not an investment date. Each preferred share converts to 50 common-share equivalents after the 2026 split. The calculator applies that factor once; original purchase dates and access are unknown.
Primary source checked
Historical table snapshot
$204.00 USD
Per original preferred share · USD
Initial price per original SpaceX preferred share, not a company valuation or a common-share quote. The December 31, 2025 table is a snapshot, not an investment date. Each preferred share converts to 50 common-share equivalents after the 2026 split. The calculator applies that factor once; original purchase dates and access are unknown.
Primary source checked
Historical table snapshot
$214.00 USD
Per original preferred share · USD
Initial price per original SpaceX preferred share, not a company valuation or a common-share quote. The December 31, 2025 table is a snapshot, not an investment date. Each preferred share converts to 50 common-share equivalents after the 2026 split. The calculator applies that factor once; original purchase dates and access are unknown.
Primary source checked
Historical table snapshot
$220.00 USD
Per original preferred share · USD
Initial price per original SpaceX preferred share, not a company valuation or a common-share quote. The December 31, 2025 table is a snapshot, not an investment date. Each preferred share converts to 50 common-share equivalents after the 2026 split. The calculator applies that factor once; original purchase dates and access are unknown.
Primary source checked
Historical table snapshot
$270.00 USD
Per original preferred share · USD
Initial price per original SpaceX preferred share, not a company valuation or a common-share quote. The December 31, 2025 table is a snapshot, not an investment date. Each preferred share converts to 50 common-share equivalents after the 2026 split. The calculator applies that factor once; original purchase dates and access are unknown.
Primary source checked
IPO pricing date
$135.00 USD
Per Class A common share · USD
Final IPO offering price, after the May 2026 split. This is neither today’s share price nor an executed sale by an early holder. The earlier June 1 S-1/A left the offer price blank.
Primary source checked
There are no daily private-market prices between these observations. We do not fill the gaps with an invented curve. Investment returns require the specific security, entry terms, dilution and an actual exit or appropriate mark.
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