--- title: "US IPO Weekly Recap: SpaceX completes record-breaking $75 billion IPO and trades up 19%" type: "News" locale: "en" url: "https://longbridge.com/en/news/289645772.md" description: "SpaceX completed a record-breaking $75 billion IPO at $135/share, closing up 19% on its first day. Other notable listings included Parabilis Medicines (+36%), ERock (-21%), WhiteHawk Minerals (+5%), and Forbright (flat). Italian tech firm Bending Spoons filed for a US IPO. The Renaissance IPO Index rose 21.1% year-to-date, outperforming the S&P 500." datetime: "2026-06-12T22:29:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/289645772.md) - [en](https://longbridge.com/en/news/289645772.md) - [zh-HK](https://longbridge.com/zh-HK/news/289645772.md) --- # US IPO Weekly Recap: SpaceX completes record-breaking $75 billion IPO and trades up 19% **SpaceX** (SPCX) completed its record-breaking IPO this past week, ending its first day up 19%. Beyond the headline deal, a handful of other sizable IPOs priced, and one major issuer joined the pipeline. Back to the headline: **SpaceX** priced a full-sized deal at $135 per share, as expected, raising $75 billion at a $1.7 trillion market cap. It opened at $150 (+11% from offer) and ended the day up modestly from there (+19%). Despite reportedly drawing more than $100 billion in retail indications, retail investors were allocated around 20% of shares, below the anticipated 30%. SpaceX is an aerospace manufacturer and space transportation company that designs, manufactures, and operates rockets, spacecraft, and satellite systems. Within its three lines of business, Starlink (connectivity; 69% of 1Q revenue) is the company’s financial engine, while rocket launches (space; 13%) and Grok/X/Colossus data centers (AI; 17%) are currently high cash burn segments. The other deals on the calendar were diverse but mostly kept to the year’s major themes. After upping its shares ahead of pricing, cancer biotech **Parabilis Medicines** (PBLS) priced a further upsized offering above the range to raise $670 million at a $2.7 billion market cap. Formerly known as FOG Pharmaceuticals, Parabilis is developing medicines that target proteins previously considered undruggable using its proprietary Helicon platform. Its lead candidate is targeting a pathway that drives a broad range of solid tumors, and the company plans to initiate a Phase 3 registrational trial in desmoid tumors in the 1H27. Parabilis finished up 36%. Power generation company **ERock** (EROC) priced at the midpoint to raise $600 million at a $5.9 billion market cap. ERock designs, deploys, operates, and maintains modular natural gas generator systems for data centers, utilities, and large commercial and industrial customers across nine US states. The company is growing and should benefit from AI-driven power demand, but it’s unprofitable, and losses widened in the 1Q. ERock finished down 21%. Natural gas mineral and royalty business **WhiteHawk Minerals** (WHK) upsized and priced at the midpoint to raise $200 million at a $698 million market cap. WhiteHawk’s assets are concentrated in the Marcellus and Haynesville Shales in the Appalachian and Haynesville Basins, and its portfolio spans approximately 3.4 million gross drilling spacing unit acres, as of 12/31/25. WhiteHawk plans to issue a quarterly dividend. WhiteHawk finished up 5%. Digital bank **Forbright** (FRBT) priced at the low end to raise $142 million at a $927 million market cap. Tracing its history back to Congressional Bank, Maryland-based Forbright offers a financial services platform spanning nationwide middle-market lending, digital consumer banking, strategic advisory and asset management services. As of March 31, 2026, the company had $8.2 billion in total assets, $5.8 billion in total loans, and $7.1 billion in deposits, including $3.9 billion in digital deposits. Forbright finished flat. One major issuer joined the pipeline: Italian tech firm **Bending Spoons** (BSP) filed for a US IPO we estimate could raise $1.5 billion. **IPO Market Snapshot** The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/11/2026, the Renaissance IPO Index was up 21.1% year-to-date, while the S&P 500 was up 8.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Astera Labs (ALAB) and Arm Holdings (ARM). The Renaissance International IPO Index was up 32.4% year-to-date, while the ACWX was up 10.9%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Kioxia and Galderma. ### Related Stocks - [EROC.US](https://longbridge.com/en/quote/EROC.US.md) - [FRBT.US](https://longbridge.com/en/quote/FRBT.US.md) - [PBLS.US](https://longbridge.com/en/quote/PBLS.US.md) - [SPCX.US](https://longbridge.com/en/quote/SPCX.US.md) - [WHK.US](https://longbridge.com/en/quote/WHK.US.md) - [SPCH.US](https://longbridge.com/en/quote/SPCH.US.md) - [SPCF.US](https://longbridge.com/en/quote/SPCF.US.md) - [SPAL.US](https://longbridge.com/en/quote/SPAL.US.md) - [SNK.US](https://longbridge.com/en/quote/SNK.US.md) - [SSPC.US](https://longbridge.com/en/quote/SSPC.US.md) - [SPCU.US](https://longbridge.com/en/quote/SPCU.US.md) - [.SPX.US](https://longbridge.com/en/quote/.SPX.US.md) - [IPO.US](https://longbridge.com/en/quote/IPO.US.md) - [ACWX.US](https://longbridge.com/en/quote/ACWX.US.md) - [IPOS.US](https://longbridge.com/en/quote/IPOS.US.md) - [ALAB.US](https://longbridge.com/en/quote/ALAB.US.md) - [ARM.US](https://longbridge.com/en/quote/ARM.US.md) ## Related News & Research - [SpaceX lockup expiry: Morgan Stanley believes 'largely unchanged' fundamentals create attractive entry point at current levels](https://longbridge.com/en/news/293785215.md) - [SpaceX faces House Energy Committee demand to tour its AI data centers in Memphis](https://longbridge.com/en/news/294277242.md) - [SpaceX stock-purchasing by Congress members fuels conflict concerns](https://longbridge.com/en/news/294051253.md) - ['Prof G' Scott Galloway Says Morgan Stanley's $300 SPCX Target Is the Stuff of 'Romantic Comedies'](https://longbridge.com/en/news/293961855.md) - ['Don't Expect More Miracles,' Says Investor About SpaceX Stock](https://longbridge.com/en/news/293529763.md)