On Thursday morning, SpaceX launched its IPO website for retail investors at spacexipo.com. In addition to the prospectus and investor Q&A, SpaceX also provided its roadshow presentation for review. SpaceX's roadshow with large investors begins today.
"We are building the systems and technologies necessary to provide global connectivity on Earth and beyond, to understand the true nature of the universe, and to extend the light of consciousness to the stars," the company said on the new website.
SpaceX confirmed it plans to price the offering on June 11, with trading to begin on June 12.
On Wednesday, SpaceX (SPAX.PVT) said in a filing that it will seek proceeds of $75 billion from its initial public offering, a record amount for any IPO.
In the filing, the company said it would offer 555,555,555 shares at $135 each, raising $75 billion. That would amount to 4.2% of the entire float, with the remaining 95.8% held by CEO Elon Musk and other insiders. SpaceX authorized the underwriters to sell additional shares if needed, bringing the total raised to $85.7 billion.
At that share price, it would give SpaceX a hypothetical market cap of around $1.785 trillion.
"This listing represents the first major test for public markets after years of muted IPO activity with SpaceX paving the way for AI giants Anthropic and OpenAI to follow soon after," Wedbush analyst Dan Ives wrote in a note to investors.
SpaceX plans to use the proceeds for purposes "including the expansion of our AI compute infrastructure, enhancements to our launch infrastructure and launch vehicles, increases in the scale and capacity of our satellite constellations, and any remaining amounts for general corporate purposes."
SpaceX also needs to use the IPO proceeds and debt to repay, within six months at least, some of a $20 billion bridge loan, according to the filing.
For Musk, SpaceX's IPO is the culmination of his dream to build reusable rockets and colonize Mars. He founded the company in 2002, and by 2012, SpaceX began delivering cargo by rocket to the International Space Station.
Part of SpaceX's big valuation story is Starlink, the satellite-based internet service that began operation in 2019. Starlink generates the lion's share of SpaceX's profits, and its growth may be a reason why a SpaceX IPO would be lucrative at this time.
Tesla and SpaceX announced Terafab, a joint venture designed to consolidate every stage of semiconductor production under one roof.
Terafab targets two primary chip types: an edge-inference processor optimized for Tesla's full self-driving systems, Optimus humanoid robots, and Robotaxi fleets, plus a high-power variant hardened for space environments, supporting SpaceX satellites, orbital data centers, and xAI initiatives.
The SpaceX IPO will help fund those orbital data centers, a priority for Musk, who believes it will be cheaper to produce AI compute in space than on Earth.
As SpaceX hones and tweaks its story to investors as it seeks billions in fresh capital, Musk will, of course, benefit from the offering beyond raising funds for his SpaceX missions.
Musk would reportedly own around 42% of SpaceX before any dilution. SpaceX would need to reach $1.6 trillion in valuation for Musk to become the world's first trillionaire.
Pras Subramanian is Lead Transportation Reporter for Yahoo Finance. You can follow him on X and on Instagram.
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