SpaceX to publish its prospectus for its fastest public offering next week, aiming to raise over $700 billion.

Mars Finance News, May 15, according to CNBC, SpaceX plans to publicly release its IPO prospectus as early as next week, with the aim of launching a global roadshow on June 8 to formally pitch the deal to investors. The company submitted its IPO application confidentially in April this year.

This IPO is expected to become the largest of all time. In February, SpaceX completed a merger with Elon Musk’s artificial intelligence company xAI, and after the merger, the combined entity was valued at $1.25 trillion. Reports say the company’s target amount to raise in the IPO is about $70 billion to $75 billion, more than double the record set by Saudi Aramco in 2019. SpaceX’s expected IPO valuation has risen from $1.75 trillion to $2 trillion.

Under the rules, the prospectus must be made public at least 15 natural days before the roadshow begins, but SpaceX and its advisory team hope to disclose it earlier, so investors have more time to digest the financial data. Due to the unprecedented scale of this stock sale, SpaceX’s advisory team is seeking special sales channels, especially targeting retail investors outside the U.S. who are inclined to hold long term. This includes reaching out to brokers in countries such as the U.K., Japan, and Canada to secure allocation shares for their clients.

Affected by this news, satellite and space concept stocks such as Redwire, AST SpaceMobile, and Rocket Lab surged on the 14th by 22.08%, 10.96%, and 6.77%, respectively.