SpaceX IPO: Stock listing date nears as Elon Musk’s rocket company prepares for historic market debut

Investors might soon get a closer look at the financial details behind Elon Musk’s Space X. The rocket and satellite company, whose forthcoming initial public offering (IPO) is among the most-anticipated stock listings in years, could make its paperwork with the Securities and Exchange Commission (SEC) public as soon as this week, according to Bloomberg and other media outlets. Once its prospectus is public, anyone will be able to peruse closely guarded business metrics, such its historic revenue and profit, as well as SpaceX’s plans for future growth and its assessment of the broader marketplace in which it operates. The “risk factors” section of the document should be especially fascinating, as SpaceX has a stated goal of “establishing a self-sufficient city on Mars.” SpaceX filed preliminary confidential paperwork with the SEC in early April. According to a report from the Wall Street Journal, it is aiming for a listing date of June 12. Fast Company reached out to SpaceX for comment. Largest IPO in history According to reporting from the Financial Times, which cited people familiar with its confidential S-1 filing, SpaceX is seeking to raise roughly $75 billion for a valuation of $1.75 trillion. That would make it the biggest market debut of all time, beating out Saudi Aramco, which raised $29 billion for its IPO in 2019. SpaceX is also proposing to hand enormous voting power to Musk, CEO and board chair, who will own a “supermajority of class B stock,” the FT further reports, a structure that could essentially prevent the billionaire from ever being fired. Over the years, SpaceX has all but cornered the market for commercial rocket launches, while its Starlink internet business has more than 10,000 satellites in orbit. More recently, Musk merged SpaceX with xAI, his artificial intelligence company, which owns the X social media platform and the Grok chatbot. SpaceX is planing to list its shares on the Nasdaq, Reuter