It appears SpaceX is moving up its IPO schedule and could list on the NASDAQ as early as June 12.
Per sources who discussed the IPO with Reuters, the company will publicly confirm the date as early as next Wednesday. As part of the rollout plan, SpaceX will hold a roadshow on June 4 and a share sale as early as June 11.
The move to accelerate the listing timeline was prompted by a faster-than-expected review of the company’s IPO paperwork by the Securities and Exchange Commission (SEC). SEC IPO reviews generally take between 90 and 150 days, but are a minimum of 30 days.
The sources also confirmed that SpaceX will trade under the ticker SPCX and is expected to be one of the first companies to use NASDAQ’s new fast entry rules to list on the NASDAQ-100 index.
It is anticipated that SpaceX will target a $1.75 trillion valuation and raise around $75 billion from its IPO. If SpaceX achieves this target, it will be the largest stock market flotation of all time.
It was previously confirmed that Morgan Stanley, Goldman Sachs, JPMorgan, Citigroup and Bank of America are the lead bookrunners for the IPO. Sources have also confirmed that 16 other smaller banks are also involved in retail, international and institutional channels.
Neither the SEC nor SpaceX has made any comments regarding the new listing date.
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