It's official: SpaceX is looking to go public in an initial public offering (IPO) that could break records.
Investors looking to get ahead of the IPO have several options for investing in SpaceX right now. But for most investors, it makes more sense to simply wait for shares to be made publicly available. That's because Elon Musk reportedly wants up to 30% of shares reserved for smaller retail investors. For comparison, most major IPOs allocate just 5% to 10% of shares for small investors.
If you're looking to get involved in the most exciting space stock of the century, here's a brief summary of the most important dates to be aware of.
Three dates that will influence the SpaceX IPO
For months, we had very little clarity about when SpaceX might go public. Early reporting, however, revealed the company would target anywhere from a $1.5 trillion valuation all the way to a $2 trillion valuation, raising somewhere between $50 billion and $80 billion in fresh capital -- money that will be used for everything from orbital data centers to a permanent human base on the moon.
Last month, we simply knew that SpaceX was targeting a summer debut. But in recent days, the timeline has been narrowed down to three key dates.
Image source: Getty Images.
On May 15, Reuters reported that SpaceX is targeting a June 4 roadshow. That's the date SpaceX executives will team up with its investment banking team to pitch the IPO to investors. On June 11, SpaceX is hoping to price its IPO, meaning that a share price and valuation range will be set. An actual share sale could be as early as June 12, though there may be some delay to these internal timelines. Reuters is also reporting that the company will be listed on the Nasdaq stock exchange under the ticker SPCX.
I'm very curious about the valuation SpaceX ultimately decides on. And investors should wait to make an investment decision until a full prospectus is made public and pricing details are formally announced. But judging by the latest reports, a SpaceX IPO could arrive in as little as a few weeks.
The IPO filing says SpaceX will have a dual-class share structure that gives Class B shareholders 10 votes each, consolidating control under Musk and other insiders, whereas the Class A shares available to public investors carry one vote apiece.
