Key Points SpaceX plans to market its IPO at a fixed price of $135 per share, with a valuation of $1.75 trillion, CNBC has confirmed. The valuation would make Elon Musk's firm the seventh-biggest company in the U.S. and above Tesla, which has a market cap of about $1.6 trillion. SpaceX is planning on debuting at the Nasdaq on June 12. SpaceX founder Elon Musk addresses members of the media during a press conference announcing new developments of the Crew Dragon reusable spacecraft, at SpaceX headquarters in Hawthorne, California on October 10, 2019. Philip Pacheco | Afp | Getty Images 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 spoke on condition of anonymity 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. Reuters earlier reported the pricing details. The valuation would make SpaceX the seventh-biggest company in the U.S. and put it above Tesla , which has a market cap of about $1.6 trillion. Musk's company is planning on debuting at the Nasdaq on June 12. spaceX, which will go public under the ticker symbol SPCX, is set to be the biggest IPO ever, more than triple the size of Alibaba, which is the biggest U.S. IPO to date. The company filed its prospectus with the Securities and Exchange Commission late last month, revealing billions in losses and Musk's massive ownership. It submitted an amended filing on Monday that showed SpaceX plans to reserve up to 5% of stock in its IPO for purchase by "certain employees and persons" in a direct share program. — CNBC's Lora Kolodny contributed reporting to this story. Read more CNBC tech news