NEW YORK, May 17, 2026, 06:29 EDT
- SpaceX could list on Nasdaq as soon as June 12 with the ticker SPCX.
- The company is expected to look for around $75 billion, targeting a valuation near $1.75 trillion.
- Shareholders signed off on a 5-for-1 split, while larger investors look at demand, price, and governance.
SpaceX is moving closer to what could be a record IPO. Over the weekend, reports said BlackRock is discussing a $5 billion to $10 billion investment, and shareholders have signed off on a 5-for-1 stock split. The rocket and satellite company is still aiming for a June debut.
Timing is in focus as U.S. markets are closed for the weekend. Investors look ahead to next week, when deal steps are set: a split is on the table, eyes on a possible prospectus drop, and new questions around how much control Elon Musk hangs onto. The story has shifted from general IPO talk to an actual calendar.
SpaceX is looking to kick off its IPO process with a Nasdaq debut as soon as June 12, with shares set to trade under the symbol SPCX, sources told Reuters. The prospectus could go public as soon as Wednesday. The investor roadshow might start June 4 with pricing targeted for June 11. Roadshows are meetings for investors to pitch the offering.
SpaceX is expected to aim for around $75 billion in proceeds at a valuation near $1.75 trillion, Reuters reported. That’s up from the $1.25 trillion value set when SpaceX merged with Elon Musk’s AI firm xAI in February. The target would also make the deal the largest stock market debut on record.
BlackRock is in talks that could shore up demand, but nothing has been finalized. Reuters reported, citing The Information, that the asset manager looked at putting money into SpaceX from its actively managed funds. BlackRock wouldn’t comment. SpaceX didn’t reply. Reuters said it hadn’t been able to verify the story.
SpaceX’s 5-for-1 stock split isn’t a discount. The split ups the share count and drops the price per share, but the company’s value stays the same. Bloomberg News reported and Reuters picked up that SpaceX’s fair market value per share will change to $105.32 from $526.59 after the split. The split is set to be processed the week of May 18 and finished by May 22.
SpaceX has been working towards a possible listing for months. In a December letter to shareholders seen by Reuters, CFO Bret Johnsen said SpaceX was “preparing the company for a possible IPO in 2026,” but noted the timing and valuation were not set. The letter also mentioned a secondary share sale, letting private holders sell at an $800 billion valuation. Reuters
Some investors are still pricing the stock under the IPO target. Scottish Mortgage, run by Baillie Gifford, said it used a $1.25 trillion valuation for its SpaceX stake as of March 31, basing that on real transactions and not on media reports. According to MoneyWeek, SpaceX made up 18% of Scottish Mortgage’s portfolio at April 30.
That valuation gap drives the trade. “All of these companies have had a compelling story,” said Jay Ritter, a University of Florida professor following U.S. IPOs. At those high valuations, he said, “lots of things have to go right.” Revenue needs to jump while costs stay under control. “Most of the time, things don’t go according to plan,” he said. Reuters
The price also reflects competition. SpaceX keeps going up against Blue Origin and United Launch Alliance in government and launch contracts. Reuters points out both Blue Origin and SpaceX are making NASA moon landers. ULA secured a $5.3 billion contract with the U.S. Space Force for 19 missions.
Starlink is still the main growth bet investors are watching. The U.S. Federal Communications Commission last week signed off on EchoStar’s $17 billion spectrum sale to SpaceX, backing Starlink’s push into direct device-to-device connections. That service is designed to link phones straight to satellites or hybrid networks.
The deal remains uncertain. Pension chiefs from New York and California are pushing back on SpaceX’s proposed governance in the IPO, according to a letter seen by Reuters. They argue SpaceX plans “the most management-favorable governance structure ever brought to the U.S. public markets at this scale,” pointing to super-voting shares and restrictions on shareholder lawsuits. SpaceX did not answer Reuters’ questions about the letter. Reuters
Week looks packed but focused. Investors are set to track the public filing, watch for the stock split, and look out for any hint of BlackRock’s final order. There’s also interest in whether governance complaints will hit demand. Price talk is big, but there’s not much out in public numbers yet.
