SpaceX announces Nasdaq IPO target date as June 12
SpaceX speeds up its IPO, aiming for a Nasdaq listing as early as June 12 with a potential $75B raise.
SpaceX, the rocket and satellite company founded by Elon Musk, is gearing up for a major milestone as it targets June 12 for its highly anticipated debut on the Nasdaq stock exchange. According to sources quoted by Reuters, this initial public offering (IPO) could set records, with the company aiming for a valuation of $1.75 trillion, making it the largest stock market flotation in history.
Accelerated Timeline for Listing
Originally expected to go public later in June, around the time of Musk's birthday, SpaceX has fast-tracked its IPO timeline. A preliminary prospectus is set to be made public as early as next Wednesday, with a roadshow scheduled to begin on June 4. The share sale itself is planned for as early as June 11, just a day before the company’s official Nasdaq listing.
The acceleration is reportedly due in part to a quicker-than-expected review of SpaceX’s IPO filing by the U.S. Securities and Exchange Commission (SEC). Sources familiar with the matter, who requested anonymity, confirmed that the company has chosen "SPCX" as its Nasdaq ticker symbol. Interestingly, this ticker was previously associated with Tuttle Capital Management’s SPAC-focused ETF before becoming available in April.
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A Pivotal Moment for the IPO Market
SpaceX’s IPO comes at a critical juncture for the stock market. After struggling with volatility over the past two years due to geopolitical uncertainty and tariff policies, the market has shown signs of recovery. SpaceX’s massive offering is set to headline a busy IPO calendar, which could also include public listings by artificial intelligence firms Anthropic and OpenAI.
This IPO also represents a significant moment in SpaceX’s growth trajectory. In February, the company saw its valuation jump from $1.25 trillion to $1.75 trillion following its merger with Musk’s artificial intelligence startup, xAI.
Nasdaq Secures Marquee Offering
SpaceX’s decision to list on the Nasdaq marks a major win for the exchange, which faced competition from the New York Stock Exchange for the listing. Nasdaq recently introduced "fast entry" rules to expedite the inclusion of newly listed large-cap companies, such as SpaceX, into its flagship Nasdaq-100 index. Other index operators, including S&P Dow Jones Indices and FTSE Russell, have implemented similar measures to attract high-profile IPOs.
Sources indicated that SpaceX's IPO is being managed by top investment banks including Morgan Stanley, Bank of America, Citigroup, JPMorgan, and Goldman Sachs. An additional 16 banks have been engaged in smaller roles to manage institutional, retail, and international investor channels.
A Historic Debut in the Making
The IPO is expected to raise approximately $75 billion, cementing SpaceX's position as a dominant player not only in the space exploration and satellite industries but also in the broader financial markets. As one of the most eagerly awaited public offerings in years, SpaceX's market debut is poised to reshape IPO standards and attract global investor interest.
SpaceX has not yet issued a public comment on the upcoming IPO. Similarly, the Nasdaq and the SEC have declined to comment on the developments. For now, all eyes are on June 12, when the company is expected to officially go public under the ticker "SPCX" on the Nasdaq exchange.
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