SpaceX Plans Initial Public Offering for Early June Roadshow

SpaceX Unveils Plans for Historic IPO

SpaceX, the leading rocket manufacturer and space exploration company founded by Elon Musk, has outlined the details of its highly anticipated initial public offering (IPO) at a meeting with its team of bankers. According to two people familiar with the matter, the company plans to earmark a large portion of shares for retail investors and will host 1,500 of them at an event in June following the IPO roadshow launch.

The meeting, which took place on Monday night, brought together the full syndicate for the first time as part of the process for what is expected to be the biggest initial public offering ever. As part of the process, SpaceX plans to raise $75 billion, valuing the company at as much as $1.75 trillion. This valuation represents a significant step up from the $1.25 trillion combined valuation set when SpaceX merged with Musk's artificial intelligence startup xAI in February.

Retail investors are set to play a critical role in the IPO, with 1,500 retail investors scheduled to meet with the company on June 11 at what the people described as a major investor event. Everyday retail investors in the U.S., the UK, EU, Australia, Canada, Japan, and Korea will also have the opportunity to participate in the offering.

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The structure of the deal and precise amount of the retail allocation are expected to be finalized closer to the IPO launch. One of SpaceX's lead underwriters told the group of 21 investment banks that the retail demand and allocation will be something they've "never seen before."

The company plans to make its IPO prospectus public in late May. The IPO roadshow is expected to launch the week of June 8, when executives and bankers will pitch the IPO to investors. About 125 financial analysts from the 21 banks on the deal are scheduled to meet with the company the day before the roadshow launch.

Comparison of Retail Allocation

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The large retail component is by design, according to Bret Johnsen, Chief Financial Officer of SpaceX. "Those are folks that have been incredibly supportive of us and of Elon (Musk) for a long time, and we want to make sure that we recognize that," he said during the virtual meeting.

The $1.75 trillion target valuation represents a significant increase from the $800 billion valuation set in December 2025, before the merger with xAI. The deal is being led by Morgan Stanley, Bank of America, Citigroup, JP Morgan, and Goldman Sachs as active bookrunners, with 16 other banks in smaller roles spanning institutional, retail, and international channels.