Overview
- SpaceX has told prospective investors to expect pre-IPO briefings known as testing-the-waters meetings, according to people familiar with the plans.
- The company is discussing raising about $70 billion to $75 billion in the offering, in what would be the largest IPO to date based on reported targets.
- People familiar with the process say a confidential SEC filing could come soon, and a market debut is being targeted in the coming months though the timing could change.
- Reports indicate SpaceX may reserve as much as 30% of the offering for individual investors, which would give more retail buyers access at the IPO price than is typical.
- Bank of America, Citigroup, Goldman Sachs, JPMorgan, and Morgan Stanley are being lined up for senior roles on the deal, according to multiple reports.
- Investors are weighing how Starlink’s growing sales and the recent xAI acquisition, which is said to carry about $17.5 billion of debt and less than $1 billion in revenue, affect the company’s pitch and finances.