SpaceX is pushing banks for one of the lowest IPO fee rates ever.
The company is negotiating to pay less than 0.75% on its planned $75B IPO, though banks could still collect roughly $500M in fees.
Goldman and Morgan Stanley are reportedly set to take the largest share of the fee pool, with 21 other brokers involved.
That is far below the typical IPO underwriting fee range of 4%-7%, and even low versus other mega-IPOs:
GM 2010: $15.8B raise, 0.75% fee
Facebook 2012: $16B raise, 1.1%
Alibaba 2014: $25B raise, 1.2%
Uber 2019: $8B raise, 1.3%
Visa 2008: $17.9B raise, 2.8%
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