Elon Musk’s rocket and satellite maker, SpaceX, is aiming to list its shares on the Nasdaq as early as June 12. The company, which designs, manufactures, and launches advanced rockets and spacecraft, is set to trade under the ticker ‘SPCX’. This highly anticipated market debut is expected to be a key event in this year’s IPO calendar, which could also feature AI firms Anthropic and OpenAI. The listing comes as the initial public offering market shows signs of a rebound after struggling over recent years amid volatility fuelled by U.S. tariff policy and geopolitical uncertainty.
Sources familiar with the matter indicate SpaceX has expedited its IPO timeline. The company is now targeting the public release of its prospectus as early as next Wednesday, with a roadshow planned for June 4, and the share sale potentially commencing on June 11. This accelerated schedule, initially eyed for late June, is partly attributed to a quicker-than-expected review of its IPO paperwork by the U.S. Securities and Exchange Commission. The ticker ‘SPCX’ was previously used by a SPAC-focused ETF, with its availability earlier this year sparking speculation about SpaceX’s choice.
SpaceX is reportedly aiming to raise approximately $75 billion, targeting a valuation of roughly $1.75 trillion. This would potentially make it the largest stock market flotation ever, representing a substantial increase from the $1.25 trillion combined valuation set when SpaceX merged with Musk’s artificial intelligence startup, xAI, in February. Morgan Stanley, Bank of America, Citigroup, JPMorgan, and Goldman Sachs are serving as the lead bookrunners for the offering, with 16 other banks in supporting roles. This listing marks a notable victory for Nasdaq, particularly following the rollout of its new ‘fast entry’ rules designed to quickly integrate large-cap companies into its Nasdaq-100 index.
