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SpaceX Reportedly Works With 21 Banks on June IPO at $1.75 Trillion Valuation

SpaceX Reportedly Works With 21 Banks on June IPO at $1.75 Trillion Valuation

SpaceX has reportedly filed a confidential SEC draft for a possible June IPO, with banks including Goldman Sachs, JPMorgan, Morgan Stanley, Citi and Bank of America said to be leading the offering.

Summary

SpaceX has reportedly filed a confidential draft registration statement with the U.S. Securities and Exchange Commission for a potential initial public offering that could take place in June. The reported listing may seek a valuation above $1.75 trillion and raise as much as $75 billion. Goldman Sachs, JPMorgan, Morgan Stanley, Citi and Bank of America are said to be among the lead underwriters. This adds to earlier reports that the company was working with 21 banks on the deal.

Terms & Concepts
  • IPO: Initial public offering, the process in which a private company offers shares to the public on a stock exchange for the first time.
  • SEC: The U.S. Securities and Exchange Commission, the federal regulator that oversees securities markets and public company filings.
  • Underwriters: Investment banks that help structure, market and distribute shares in a public offering, often advising on pricing and investor demand.