SpaceX may have just taken one step closer to going public. Bloomberg reports that Elon Musk‘s aerospace company has confidentially filed a draft initial public offering (IPO) registration to the U.S. Securities and Exchanges Commission (SEC). If all goes well, SpaceX could be listed on the stock exchange by June.
While certainly a move toward a public listing, SpaceX’s confidential IPO doesn’t put it on a rigid timeline. Confidential filings such as this merely allow companies to receive the SEC’s direct feedback on their IPO plans, and make changes accordingly. Initially intended for use by smaller companies, this mechanism allows businesses to keep information private for longer, including the number of shares offered, their financial statements, their future plans, and anticipated risk factors.
As such, details of SpaceX’s draft IPO currently remain unclear. Even so, the fact of the filing indicates that the company is ready to push forward with going public.
Mashable Light Speed
Anonymous sources cited by Bloomberg claim SpaceX may seek a valuation of over $1.75 trillion, and that the company is considering aiming for a fundraising target of $75 billion. This is a notable increase from the $25 billion fundraising goal Reuters reported last December, though more in line with the $40 billion to $80 billion range The Wall Street Journal reported last week, both publications also citing anonymous sources. Either way, the IPO has the potential to offer a significant boost to SpaceX’s finances.
Reuters reports that at least 21 banks are now working with SpaceX on its IPO, with Morgan Stanley, Goldman Sachs, JPMorgan Chase, Bank of America, and Citigroup taking lead roles.
SpaceX acquired Musk’s AI company xAI earlier this year, including its social media platform X (previously known as Twitter). The deal boosted SpaceX’s valuation to $1.25 trillion at the time, and further consolidated Musk’s various X-branded companies. xAI acquired the already Musk-owned X in a deal valued at $33 billion last March, after the billionaire originally bought it for $44 billion in 2022.
