SpaceX submitted a confidential draft Initial Public Offering (IPO) registration to the US Securities and Exchange Commission (SEC). This puts the company on track for a June listing.
The filing would position SpaceX as the first of three anticipated mega-IPOs this year, ahead of OpenAI and Anthropic.
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For context, in a confidential IPO filing, a company can receive comments and feedback from the SEC and make corrections or adjustments before any information becomes public.
SpaceX could target a valuation above $1.75 trillion. The IPO could raise as much as $75 billion, according to Bloomberg. That would more than double Saudi Aramco’s $29 billion IPO in 2019, which held the record.
According to people familiar with the matter, SpaceX has enlisted Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, and Morgan Stanley for senior roles on the offering.
SpaceX is also weighing a dual-class share structure. This would grant insiders like Elon Musk enhanced voting power.
Nonetheless, the path to a June listing is not without headwinds. Equity markets have been volatile due to the US-Iran conflict and elevated oil prices.
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