SpaceX Files for Biggest Stock Launch in History
SpaceX has filed to sell shares to the public for the first time. The company could be valued at up to $2 trillion.
That would make it the biggest stock launch in history. SpaceX plans to list on the Nasdaq stock market on June 12.
A roadshow to attract investors is expected the week of June 8. SpaceX hopes to raise up to $75 billion.
It is expected to trade under the symbol SPCX. Antonio Gracias runs investment company Valor Equity Partners.
He is a close ally of Elon Musk and owns 7.3% of SpaceX. That makes him the second-largest shareholder after Musk.
He stands to gain a lot of money from the stock launch. SpaceX also shared details of its financial performance as part of the process.
But major pension funds in New York and California have raised concerns. They object to Musk keeping full voting control after the launch.
Key Terms 5
- IPO When a company sells shares to the public for the first time
- Nasdaq A major US stock market where tech companies often list
- Roadshow When a company presents itself to investors before a stock launch
- Pension funds Organisations that manage retirement savings for workers
- Dual-class share structure A setup where one person keeps voting control despite other shareholders