BlackRock has held discussions to invest between $5 billion and $10 billion in SpaceX’s planned initial public offering next month, Reuters reported, citing news outlet The Information on Saturday.Bloomberg News reported on Friday that a majority of SpaceX shareholders have approved a 5-for-1 stock split recommended by the company’s board of directors. According to the report, SpaceX shareholders associated with the IPO were informed via email that the fair market value of the stock was revised to $105.32 per share from $526.59 after the split. The stock split will be processed during the week of May 18, and is expected to be completed by May 22, the report said. The development comes as Elon Musk’s rocket and satellite maker prepares for one of the most closely watched public listings in recent years. SpaceX is targeting a stock market debut as early as June 12, and has chosen Nasdaq as the venue for its proposed listing, Reuters reported on Friday, citing people familiar with the matter. Set to trade under the ticker symbol “SPCX,” the company aims to publish its prospectus early next week, with the roadshow expected to begin around June 4 and share sales likely to begin from June 11, according to Reuters.
The company is likely to seek to raise about $75 billion at a valuation of about $1.75 trillion, making it the largest stock market flotation ever. The planned valuation would represent a sharp increase from the $1.25 trillion combined valuation set when SpaceX merged with Musk’s artificial intelligence startup xAI in February. The listing is also expected to be a major test for the IPO market, which is recovering after prolonged volatility linked to US tariff policy and broader geopolitical uncertainties. Morgan Stanley, Bank of America, Citigroup, JPMorgan and Goldman Sachs are acting as lead bookrunners for the offering.
