Industry rumours suggests that the long-awaited Initial Public Offering (IPO) from Elon Musk’s SpaceX will see a Prospectus published imminently, possibly as soon as May 20th. The news coincides with the new launch date for Musk’s giant Starship on May 20th and one day later than originally planned (and launch at 18.30pm Florida-time).

This is not confirmed, but what is understood is that SpaceX’s financial team and their advisors are kicking off with investor roadshows starting on June 4th.

The current likelihood, according to Reuters, is that the S1 Prospectus will be issued on May 20th, then:
· Roadshow kicks off on June 4th
· Share Price is set on June 11th
· Actual IPO happens on June 12th
· Listed on NASDAQ exchange, June 12th-13th

The rumours suggest that SpaceX wants to raise about $75-$80 billion from new investors. If correct that would value SpaceX at well over $1 trillion and some observers suggest more than $1.75 trillion. Either way, the IPO is going to be the very largest ever. An IPO from Saudi Aramco, the previous record holder, raised $29 billion.

One significant investment business, BlackRock, is said to be considering putting $5-$10 billion into SpaceX.

Musk founded Space Exploration Technologies Corp in 2002, having used the $100 million proceeds from the sale of his stake in PayPal as seed capital.

A successful IPO is likely to have broader implications for the Wall Street technology sector as funds rebalance portfolios to raise cash for SpaceX allocations, and provide a boost for other space-related stocks.

Musk is believed to hold about 42 per cent of SpaceX’s equity through a dual-class share structure that gives him around 78 per cent of the voting power. He is set to retain strategic control following the IPO. Reports suggest that the IPO will award Musk with up to 250 million shares as a bonus for the IPO and worth as much as $1 trillion in stock options.

May 15th saw SpaceX confirm a board-approved 5 for 1 stock split, with the share price being reduced from $526 per share to $105 per share. In theory this will allow more investors to afford a slice of the IPO.

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Categories: Blogs, Business, Inside Satellite, IPO, Satellite

Tags: elon musk, IPO, spacex