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SpaceX has filed confidential paperwork with regulators to pursue an initial public offering (IPO) later this year, according to reports. The company is reportedly expected to be valued at as much as $1.75 trillion, with plans to raise between $50 billion and $75 billion in fresh capital.
SpaceX CEO Elon Musk, who also leads Tesla (TSLA), reportedly wants to ensure that everyday retail investors can participate in the IPO. The reports say SpaceX’s CFO expects to allocate up to 30% of the share sale to retail investors, which would be higher than the typical 5% to 10% allocation many large companies provide to smaller retail investors.
In an internal meeting in early April, SpaceX CFO Bret Johnsen said, according to Reuters, that retail investors would be “a critical part of this and a bigger part than any IPO in history.” He added that these investors have been “incredibly supportive” of the company and of Musk, and that SpaceX wants to “make sure that we recognize that.”
SpaceX has not published an IPO prospectus yet, but several dates are being watched. On June 11, the company is planning to invite around 1,500 retail investors to a “major investor event.” While that event could coincide with the IPO timing, it is not confirmed as the exact IPO date.
The IPO prospectus is not expected to become public until late May, according to the reports.
Betting markets tracked by Kalshi suggest the IPO is more likely to occur later in the year rather than in early June. Around 86% of bettors believe the IPO will take place before Aug. 1, while about 83% expect it before July 1. Only about 13% of bettors believe it will occur before June 1.
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