SpaceX's Record-Breaking IPO and M&A/Listing Market Trends

M&A/IPO | Fri Jul 03 2026 00:00:00 GMT+0000 (Coordinated Universal Time) | 8 sources

SpaceX completed the largest-ever IPO at a $2 trillion valuation, while Jersey Mike's filed for listing and Bank7 and Nexa Resources advanced M&A deals.

Analysis

[SpaceX] completed the largest-ever IPO at $85.7B ^[5][8]

• Debuted at $150 offering price with approximately $2 trillion market cap
• Record syndicate involving 23 underwriting banks
• Surged 53% within three days of listing before correcting
• Scheduled for Nasdaq-100 inclusion on July 6

[SpaceX] positioned AI infrastructure as a core growth driver ^[4][6]

• S-1 cites TAM of $28.5T
• of which $26.5T is AI-related
• $82B in partnerships with Google Cloud
• Anthropic
• and Reflection AI
• Three-year AI processing contract with Alphabet worth $920M monthly
• Plans for orbital data centers

[SpaceX] faced sharply divided analyst price targets ahead of quiet period expiration ^[5]

• Underwriter quiet period ends July 7
• Arete Research Buy with $401 target (154% upside)
• Morningstar Sell with $62 target (61% downside)
• Average target of $229 from 13 analysts

[Jersey Mike's] filed IPO paperwork for the sandwich chain ^[1]

• Disclosed revenue growth and founding family compensation details
• S-1 includes detailed business growth information

[Bank7] agreed to acquire 71% controlling stake in Century Financial ^[3]

• Parent company of Century Bank based in Santa Fe
• New Mexico
• Stake acquired through court-supervised sale process
• Expands business into New Mexico region

[Nexa Resources] confirmed stake sale negotiations between Boliden and Votorantim ^[2]

• Boliden interested in Nexa stake held by Votorantim
• Shares rose 1.4% in after-hours trading following the announcement
• Nexa also plans separate discussions with Boliden

[Amazon Leo] secured 390 satellites, enabling initial commercial service launch this year ^[7]

• Added 29 more satellites via Atlas V rocket
• surpassing 390 total
• Targeting a final constellation of 7
• 700 satellites
• Competing with Starlink's 10
• 000 satellites and 10 million subscribers
• Launch vehicle delays including Blue Origin New Glenn explosion

Sources

• [1] 5 things to know about Jersey Mike’s ahead of its IPO - MarketWatch Top Stories
• [2] Nexa Resources confirms Boliden talks on potential deal - Seeking Alpha Market News
• [3] Bank7 to acquire 71% stake in Century Financial; eyes New Mexico expansion - Seeking Alpha Market News
• [4] Could SpaceX Become the First $10 Trillion Company? Here's What Would Need to Happen. - The Motley Fool
• [5] SpaceX Stock Is About to Face Its Biggest Hurdle Yet. Here's What Investors Should Do Next. - The Motley Fool
• [6] Could SpaceX Eventually Become the Ultimate AI Infrastructure Play? - The Motley Fool
• [7] Amazon has deployed enough satellites to launch Leo service later this year - CNBC World Markets
• [8] SpaceX may emerge as ultimate blueprint for new wave of mega-cap IPOs - CNBC World Markets