SPCX could be the next big ticker symbol on the Nasdaq. As first reported reutersSpaceX has accelerated its IPO timeline, aiming to list on Nasdaq by June 12. reuters‘ According to sources, Elon Musk’s company is announcing it will go public as early as next Wednesday, followed by an IPO roadshow to attract more investors on June 4 and a share sale as early as June 11.
Earlier this year, SpaceX reportedly took the first steps towards going public by filing IP paperwork with a launch expected in late June or early July. Even before the deadline tightened, news of SpaceX’s IPO had already generated a lot of buzz, given that the company was trying to raise up to $75 billion in the offering and was seeking a valuation of $1.75 trillion. Information It was also reported that BlackRock is considering a larger investment of between $5 to $10 billion for SpaceX’s IPO.
While the IPO valuation may seem absurd, the company is rapidly expanding its scope and goals following Musk’s grand claims. In January, SpaceX filed an application to build an “orbital data center” to launch one million satellites. A month later, the CEO said he would shift SpaceX’s immediate priorities to building a lunar city rather than colonizing Mars. We can’t forget that SpaceX also acquired another of Musk’s companies, XAI, earlier this year, which could be a factor in the company’s extremely high valuation.
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