SpaceX discloses IPO plan details, intends to launch roadshows in early June

According to two informed sources, SpaceX held a meeting with a team of bankers on Monday evening to detail its highly anticipated IPO plan. During the meeting, SpaceX stated that a large portion of the shares would be allocated to retail investors, and an event would be held in June after the IPO roadshow begins, with 1,500 retail investors expected to participate.

The two sources said that Chief Financial Officer Brett Johnson said during the online meeting, “Retail investors will be a key part of this IPO, and their scale will surpass any previous IPO.”

Johnson stated that the inclusion of a significant retail allocation was deliberate because “these individuals have been very supportive of us and Elon Musk for a long time, and we want to express our gratitude.”

This meeting is part of SpaceX’s initial public offering (IPO) process, which is also one of the steps in the rocket manufacturer’s effort to raise $75 billion (expected to be the largest IPO in history, with a company valuation of up to $1.75 trillion).

Sources revealed that SpaceX, led by Elon Musk, plans to launch the roadshow during the week of June 8, where company executives and bankers will pitch the IPO to investors. They also added that approximately 125 financial analysts from the 21 banks involved in the IPO plan to meet with SpaceX the day before the roadshow.

According to two sources, a major underwriter of SpaceX told a review panel composed of 21 investment banks that retail demand and the size of allocations would be “unprecedented.”

They said that the specific details of the transaction structure and retail allocations are expected to be finalized just before the IPO launch.

They also mentioned that the company plans to publicly disclose its IPO prospectus in late May.