Overview
- SpaceX, which filed a confidential draft with the SEC on Wednesday, April 1, is preparing an IPO that could launch as soon as June if regulators sign off.
- Reports indicate a valuation goal of about $1.5–$1.75 trillion and a raise of up to $75 billion, with a 21‑bank syndicate led by Morgan Stanley, Goldman Sachs, JPMorgan, Bank of America, and Citigroup.
- A confidential filing lets the SEC vet the numbers before the prospectus goes public, and executives plan investor briefings this month to gauge demand and refine terms.
- Starlink’s scale anchors the pitch with roughly 9.2 million subscribers and about $15–$16 billion in 2025 revenue alongside roughly $8 billion in EBITDA, though GAAP profitability is not yet clear.
- SpaceX absorbed Elon Musk’s xAI in February in a share‑exchange valued at about $1.25 trillion combined, and coverage says the IPO may use dual‑class voting and reserve up to 30% of shares for retail buyers.