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SpaceX, Elon Musk’s rocket and satellite company, has publicly filed for an initial public offering, kicking off the listing process.
Bloomberg reported on May 20 that the company is pursuing a Nasdaq listing and has submitted IPO paperwork to the US Securities and Exchange Commission. SpaceX plans to trade under the ticker SPCX. The filing also disclosed that the company holds 18,712 Bitcoin, valued at about $1.45 billion based on an average purchase price of roughly $35,000.
Citing people familiar with the matter, Bloomberg reported that SpaceX is seeking to raise as much as $75 billion in the offering and is being valued at more than $2 trillion. That would dwarf the $29.4 billion raised in Saudi Aramco’s 2019 listing, the largest IPO on record.
SpaceX is a central player in the US aerospace industry, handling major rocket-launch projects for NASA and the Defense Department. Its satellite internet business, Starlink, has also become a major source of revenue.
Bloomberg reported that the company’s valuation climbed to about $1.25 trillion after it acquired Musk’s artificial intelligence startup xAI earlier this year. The deal also included X, the social media platform formerly known as Twitter that Musk bought in 2022.
The filing names Goldman Sachs and Morgan Stanley as lead underwriters for the IPO. Bank of America, Citigroup and JPMorgan Chase are also participating as joint bookrunners.
Bloomberg said SpaceX will begin marketing the deal to investors on June 4 and could price the offering as early as June 11.
