(Bloomberg) — SpaceX aims to sell 555.6 million shares \u200bat $135 apiece for its record-breaking $75 \u200bbillion \u2060initial public \u200boffering, Reuters reported, citing an unidentified person familiar with the matter.<\/p>\n
Most Read from Bloomberg<\/p>\n
The report indicates SpaceX is breaking from the traditional IPO process, whereby companies typically announce a price range before marketing the shares during investor roadshows, and set the price before trading begins. SpaceX didn\u2019t immediately respond to a request for comment.<\/p>\n
SpaceX\u2019s IPO is among the most closely watched public listings globally. Its rapid march to market after confidentially filing in March \u2014 and then publicly last month \u2014 comes as investors closely monitor a pipeline of potential offerings from other high-profile technology companies.<\/p>\n
AI rivals OpenAI and Anthropic PBC look to forge ahead with listings of their own, while Alphabet Inc. \u2014 which has its own large language models and AI infrastructure businesses \u2014 revealed plans for a record $80 billion equity offering on Monday.<\/p>\n
The SpaceX deal would be the largest IPO on record, more than doubling the $29.4 billion raised by Saudi Aramco in 2019.<\/p>\n
Elon Musk\u2019s rocket launch, satellite and AI company is expected to disclose the terms of the offering as soon as Wednesday, start formal marketing on June 4 and price as early as June 11, Bloomberg News has reported. The timetable could still slip by a matter of days.<\/p>\n
The company is targeting a valuation of at least $1.8 trillion in the offering, Bloomberg has reported.<\/p>\n
Goldman Sachs Group Inc., Morgan Stanley, Bank of America Corp., Citigroup Inc. and JPMorgan Chase & Co. are leading the SpaceX offering along with 18 other banks. The company, known formally as Space Exploration Technologies Corp., expects to make its debut on Nasdaq and Nasdaq Texas under the symbol SPCX.<\/p>\n
The fundraising comes as SpaceX negotiates to pay razor-thin fees to the Wall Street firms, though banks are still likely to rake in about $500 million.<\/p>\n
More than 1,000 current and former SpaceX employees have also joined forces to negotiate better pricing and access to sophisticated tax-saving financial products ahead of the IPO, which is poised to turn many of them into multimillionaires, Bloomberg has reported.<\/p>\n","protected":false},"excerpt":{"rendered":"(Bloomberg) — SpaceX aims to sell 555.6 million shares \u200bat $135 apiece for its record-breaking $75 \u200bbillion \u2060initial…\n","protected":false},"author":2,"featured_media":473491,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[1877,19682,85,46,141,145,4688,220034],"class_list":["post-473490","post","type-post","status-publish","format-standard","has-post-thumbnail","category-space","tag-bloomberg","tag-bloomberg-news","tag-il","tag-israel","tag-science","tag-space","tag-spacex","tag-traditional-ipo-process"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/473490","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=473490"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/473490\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/473491"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=473490"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=473490"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=473490"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}