SPCX could be the next big ticker symbol on the Nasdaq. As first reported by Reuters, SpaceX has accelerated its IPO timeline, aiming to be listed on the Nasdaq by June 12. According to Reuters‘ sources, Elon Musk’s company is pushing its announcement to go public as early as next Wednesday, followed by an IPO roadshow to garner more investors kicking off on June 4 and the share sale as early as June 11.
Earlier this year, SpaceX reportedly took the first steps of going public by filing the IP paperwork with an expected launch sometime in late June or early July. Even before the tightening of the timeframe, the news of SpaceX’s IPO already generated a lot of buzz, considering the company was looking to raise as much as $75 billion in the offering and seeking a valuation of $1.75 trillion. The Information also reported that BlackRock is considering a major investment of between $5 to $10 billion for SpaceX’s IPO.
As wild as that IPO valuation sounds, the company has been rapidly expanding its scope and goals following grandiose claims from Musk. In January, SpaceX filed an application to launch a million satellites to create an “orbital data center.” A month later, the CEO said it would shift SpaceX’s immediate priorities to building a lunar city, instead of colonizing Mars. We can’t forget that SpaceX also acquired another one of Musk’s companies, xAI, earlier this year, which could factor into the company’s extremely high valuation.
Credit: Source link
