SpaceX has reportedly taken a step that many observers have long awaited: completing the necessary paperwork to proceed with an initial public offering (IPO) and become a publicly traded company. Rumors had long pointed with a view to the IPO which will take place by July.
The company has confidentially filed a draft IPO registration document with the U.S. Securities and Exchange Commission, according to Bloomberg. As such, the public will not yet have the opportunity to closely examine SpaceX’s finances. By taking the confidential approach, SpaceX can get comments from the SEC before making details public and announcing key factors such as the price range and number of shares it initially plans to sell.
SpaceX reportedly plans to pull off the largest IPO in history. The company is reportedly looking to raise $75 billion through the offering, which would far surpass the current record held by Saudi Aramco, which raised $24 billion in its 2019 IPO.
SpaceX is expected to seek an IPO valuation of $1.75 trillion. When the company led by Elon Musk engulfed The Elon Musk-led xAI earlier this year (meaning SpaceX is now the parent company of X and Grok), the entire company was valued at $1.25 trillion.
SpaceX reportedly intends to use funds from its IPO to boost its various ambitions, including its Starship program in trouble. The company also has projects on build a base on the moongo to Mars and bring AI data centers into orbit.
This article was originally published on Engadget at https://www.engadget.com/big-tech/spacex-has-reportedly-filed-for-the-biggest-ipo-in-history-154547537.html?src=rss
