To the moon, to Mars and beyond – and oh, yes, to go public, too: Elon Musk filed the S-1 for SpaceX (SPCX Proposed) after the closing bell today – Wednesday, May 20, 2026- without disclosing the terms. The IPO could raise an estimated $75 billion, based on published reports. The deal is expected to make history as the biggest IPO ever – and it quite likely will turn Musk into a trillionaire. Space Exploration Technologies – the company’s formal name – intends to list its stock on both the NASDAQ and the NASDAQ Texas exchange, according to today’s S-1 filing.
Musk will remain in control of the company after the IPO: The cover of the prospectus makes that clear.
The road show is likely to start on or around June 4 or June 5, according to published reports – and the trade date is likely to be June 12, according to Reuters and Bloomberg.
The Bankers
Twenty-three investment banks are named on the cover.
Goldman Sachs and Morgan Stanley are the “lead left” joint book-runners – with BofA Securities, Citigroup and J.P. Morgan rounding out the list of five lead book-runners.
Barclays, Deutsche Bank Securities, RBC Capital Markets, UBS Investment Bank and Wells Fargo Securities are joint book-runners, according to the cover of the prospectus.
The investment banking team includes another 13 names: Allen & Company, Cantor, Needham & Company, Raymond James, Societe Generale, Stifel, William Blair, BTG Pactual, ING, Macquarie Capital, Mirae Asset Securities, Mizuho and Santander.
The Business
SpaceX, founded in 2002, employs more than 22,000 people engaged in three business segments – space, connectivity and AI, according to the prospectus.
The company’s roots are in California.
“Our original flagship facility in Hawthorne, California manufactures Falcon 9 and Falcon Heavy first and second stages, Dragon Crew and Dragon Cargo spacecraft, Merlin engines, Starship’s Raptor engines, Starlink User Terminals, as well as other various Starship components. The site supports high-reliability production for hundreds of successful missions, including NASA-certified crew rotations. We also maintain a corporate presence in Hawthorne,” the prospectus said.
SpaceX was reincorporated as a Texas corporation on Feb. 14, 2024 – coincidence or not – on Valentine‘s Day in 2024. The company’s principal executive offices are located at 1 Rocket Road, Starbase, Texas 78521. The Texas headquarters office in Starbase is near the southwestern town of Brownsville, which is close to the border with Mexico.
For the year that ended Dec. 31, 2025, SpaceX reported a consolidated loss from operations of $2.59 billion on revenue of $18.76 billion on a consolidated basis, according to the prospectus. SpaceX reported Adjusted EBITDA of $6.58 billion for the year that ended Dec. 31, 2025.
Stay tuned.
(For more information about this company, please check the IPO Calendar and the individual IPO Profile found on the IPOScoop.com website.)
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