Overview
- SpaceX moved up its IPO plans Friday, with Reuters-sourced reports pointing to a May 20 prospectus, a June 4 roadshow, June 11 pricing, and a June 12 Nasdaq debut under ticker SPCX, pending SEC review.
- The offering is expected to raise about $75 billion and value the company near $1.75 trillion, which would surpass Saudi Aramco’s 2019 listing as the largest IPO on record.
- The company aims to reserve up to 30% of shares for individual investors, a level CFO Bret Johnsen has described as the largest retail slice ever in an IPO.
- Morgan Stanley, Bank of America, Citigroup, JPMorgan, and Goldman Sachs are slated to lead the deal, with additional banks helping distribute shares to institutions and retail buyers.
- SpaceX chose Nasdaq in part because new fast-entry rules can speed inclusion in the Nasdaq-100, and a successful listing could encourage other large tech and AI firms to test public markets.