SpaceX, Elon Musk’s commercial space company, has released its initial public offering (IPO) prospectus.
The company plans to go public on the Nasdaq (NDAQ) stock exchange under the ticker symbol “SPCX.”
The IPO is expected to take place in mid-June of this year. SpaceX is planning to kick off a roadshow to market the share sale on June 8.
SpaceX was valued at $1.25 trillion U.S. earlier this year after merging with xAI, Elon Musk’s artificial intelligence (A.I) start-up company.
At that valuation, SpaceX would be the largest IPO in history.
Founded in 2002 to develop reusable rockets, SpaceX today is NASA’s largest launch partner after the agency ended its space shuttle program in 2011.
SpaceX also operates the Starlink satellite internet service and a constellation of 10,000 satellites, as well as xAI and the social media company X, formerly known as Twitter.
In its IPO prospectus, SpaceX said it sees a total addressable market of $28.5 trillion U.S. Currently, 69% of SpaceX’s annual revenue comes from the Starlink internet service.
The company also said that it plans to begin putting A.I. data centres into Earth’s orbit as early as 2028, and that it wants to place a human colony on Mars.
Space X currently has more than 22,000 full-time employees and Elon Musk owns most of the company.
Musk controls 85% of SpaceX voting power, with 849.5 million Class A shares and 5.57 billion Class B shares, according to the IPO prospectus.
Other than Musk, no person or entity has a stake larger than 5% in SpaceX.
The upcoming SpaceX IPO is expected to make Elon Musk, who also owns electric vehicle maker Tesla (TSLA), the world’s first trillionaire.
Despite the hype surrounding the upcoming IPO, SpaceX remains unprofitable. The company posted a $5 billion U.S. net loss in 2025.
Tech Insider
