Overview
- SpaceX has accelerated its IPO timetable and plans to list on Nasdaq under the ticker SPCX, with people familiar saying a quick U.S. SEC review helped speed the schedule.
- Elon Musk said on X that he will not sell any SpaceX shares during the offering.
- The company told shareholders it completed a 1-for-5 stock split and converted all Class C stock into Class A, steps already in effect as part of its IPO preparations.
- The offering is being pitched at roughly $1.75–$2.0 trillion in value with about $70–$75 billion to be raised, which would top Saudi Aramco’s 2019 record.
- The plan includes B-class shares with 10 times the voting power that would leave Musk controlling more than 80% of votes, and a board-approved award could grant him 200 million super-voting shares if SpaceX builds a million-person Mars colony.