SpaceX shares might get listed on NASDAQ on June 12
What's the story
Elon Musk's aerospace company, SpaceX, is gearing up for a major stock market debut. The firm plans to list its shares on the NASDAQ exchange as early as June 12, Reuters reported. The highly anticipated initial public offering (IPO) could be the biggest ever, with a target valuation of $1.75 trillion.
Market impact
SpaceX IPO to dominate tech sector's public listing this year
The upcoming IPO is one of the most awaited events in years and is likely to dominate this year's busy IPO calendar. Other tech giants like Anthropic and OpenAI are also expected to go public. SpaceX's debut comes at a crucial time for the IPO market, which has recovered after facing challenges in recent years due to US tariff policy and geopolitical issues.
Listing details
Prospectus to be made public next week
SpaceX plans to trade under the ticker 'SPCX' and has fast-tracked its IPO timeline. The firm intends to make its prospectus public as early as next Wednesday, with a roadshow launch targeted for June 4. The share sale could start as early as June 11, sources familiar with the matter told Reuters. This new plan is a departure from the initial late-June target for SpaceX's offering.
Fundraising goals
SpaceX IPO sets stage for record-breaking debut
SpaceX is looking to raise around $75 billion at a valuation of some $1.75 trillion, which would be the biggest stock market flotation ever. The target represents a significant jump from the combined valuation of $1.25 trillion when SpaceX merged with Musk's AI start-up xAI in February. Morgan Stanley, Bank of America, Citigroup, JPMorgan, and Goldman Sachs are the lead bookrunners for this offering.