SpaceX IPO timeline revealed: Roadshow begins the week of June 8, with a retail investor event on the 11th

SpaceX’s IPO process is moving further ahead.

On April 6, local time, foreign media, citing sources familiar with the matter, reported that Space Exploration Technologies Corp. (SpaceX), owned by Elon Musk, held a meeting with a team of bankers late Monday night, providing a detailed briefing on its highly anticipated IPO plans, and said it plans to “allocate a very large portion of shares to retail investors.”

Sources familiar with the matter said that SpaceX plans to publicly release its IPO prospectus in late May. Meanwhile, the company will begin roadshows during the week of June 8, at which time executives and bankers will pitch the IPO to investors. Approximately 125 financial analysts from 21 banks participating in this IPO are scheduled to meet with the company one day before the roadshow.

In addition, SpaceX also plans to hold a large investor event for 1,500 retail investors on June 11. Sources familiar with the matter said that, in addition to the United States, ordinary retail investors from the UK, the European Union, Australia, Canada, Japan, and South Korea will also have the opportunity to participate in this offering.

According to two sources familiar with the matter, the company’s CFO Brett Johnsen said during the meeting: “Retail allocation will be a crucial part of it, and will be even more important than any IPO in history.” Johnsen said that a higher proportion of the retail allocation was “deliberately arranged,” because “these people have long been extremely supportive of us and Elon Musk, and we want to recognize that.”

At the same time, a lead underwriter for SpaceX told a group consisting of 21 investment banks that retail allocation demand and distribution would be “unprecedented” to them.

Regarding the specific amounts for the deal structure and retail allocation quotas, sources said that the final figures are expected to be determined on the eve of the IPO offering.

However, it was previously reported that SpaceX plans to allocate up to 30% of its IPO shares to individual investors, a ratio that is at least three times the industry’s usual retail allocation level. Such a level of allocation would rewrite the U.S. stock IPO model.

This meeting is one part of SpaceX’s listing process. Industry insiders previously expected this to be the largest IPO in history. SpaceX plans to raise $75 billion, with a valuation as high as $1.75 trillion. According to reports, SpaceX has already secretly filed an IPO application with the U.S. Securities and Exchange Commission.

SpaceX was founded by Musk in 2002 and focuses on developing and operating reusable rockets. In February of this year, SpaceX merged Elon Musk’s AI startup xAI, in what was the largest corporate merger in U.S. history.

There have also been recent reports that SpaceX’s valuation is as high as $2 trillion, but then Musk denied the claim and called it “nonsense.”

（Source: The Paper）