Fidelity Just Made SpaceX IPO Access Easier. The Catch Is Getting Shares
Fidelity Investments said customers with as little as $2,000 in a retail brokerage account can seek shares in SpaceX’s initial public offering, a sharp cut to the usual hurdle for new-issue access. The firm said SpaceX is reserving up to 30% of the deal for retail investors, versus the 5% to 10% Fidelity said most IPOs usually set aside for that group. The timing matters. SpaceX’s filing showed it plans to offer 555,555,555 Class A shares at an expected price of $135 each, putting the base sale at about $75 billion before any extra shares are sold by underwriters. SEC-filed IPO materials say the roadshow starts June 4, the final price is expected on June 11 and trading is expected to begin June 12.