SpaceX Targets June 12 Nasdaq Debut After Accelerated IPO Timeline

Overview

• Reuters reports SpaceX plans to set its IPO price on June 11 and begin trading June 12 on Nasdaq under the ticker SPCX.
• A public registration expected as soon as May 20 would disclose SpaceX’s financial statements and operating details for the first time.
• An investor presentation is slated for June 4, reflecting an accelerated schedule that moved earlier than originally planned for late June.
• The offering is expected to value SpaceX at about $1.75 trillion, which could make it the largest stock market debut on record.
• SpaceX says it will keep controlled-company status with Elon Musk retaining decision power, which reduces requirements for a mostly independent board and for independent pay and nomination committees.