Image: SpaceX
Elon Musk’s SpaceX is targeting a Nasdaq stock market listing as early as June 12, aiming for what would be the largest initial public offering in history, three people familiar with the matter said on Friday, according to Reuters.
The rocket and satellite company plans to make its prospectus public as early as next Wednesday, launch a roadshow on June 4, and price shares on June 11, the sources said, requesting anonymity because the discussions are private. The company will trade under the ticker SPCX.
The timeline has moved up from an initial target of late June, partly because the U.S. Securities and Exchange Commission reviewed SpaceX’s IPO paperwork faster than expected, the sources added.
SpaceX is targeting a valuation of roughly $1.75 trillion and aims to raise about $75 billion, which would surpass all previous stock market flotations, Reuters has previously reported. The valuation marks a sharp increase from the $1.25 trillion figure set when SpaceX merged with Musk’s artificial intelligence startup xAI in February.
The listing would hand Nasdaq a marquee win over rival New York Stock Exchange. SpaceX had sought early inclusion in the Nasdaq-100 index, and Nasdaq recently introduced rules to fast-track large-cap companies into the benchmark.
The offering is expected to headline a busy IPO calendar that could also include AI companies Anthropic and OpenAI.
Want to see more of our stories on Google?
P.S. — Buying a new Tesla? Click here to save $1,000 USD, while supporting independent news.
Help support us by shopping on Amazon here.
Links in this post are affiliate links, so we earn a tiny commission at no charge to you. Thanks for supporting independent media!
