SpaceX filed its registration statement with the U.S. Securities and Exchange Commission on May 20, moving toward an initial public offering that could raise up to 75 billion dollars and value the company at roughly 1.75 trillion dollars.
The S-1 filing provided the most detailed public look at SpaceX’s finances to date. The company reported 18.7 billion dollars in revenue for 2025 but an operating loss of 2.6 billion dollars, with losses continuing into early 2026. Starlink, its satellite internet business, is central to the investment case.
Elon Musk will remain CEO, CTO and chairman after the listing. The filing includes a super-voting share structure to keep Musk in control and outlines legal costs of about 530 million dollars related to absorbing his AI and social media companies. Reports suggest a roadshow could begin around June 4 with a Nasdaq listing under ticker SPCX as early as June 12.
If completed at the reported size, the offering would surpass Saudi Aramco’s 2019 IPO as the largest stock market debut in history. Goldman Sachs, Morgan Stanley, Bank of America, Citigroup and JPMorgan are among banks leading the deal.
The filing disclosed 36 pages of risk factors and legal liabilities tied to integrating Musk’s other companies. Starlink subscriber growth and Starship development costs are central to investor assessments. Reports indicate a roadshow could begin around June 4 with pricing on June 11 ahead of a potential Nasdaq debut under ticker SPCX.
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Sources:
https://www.euronews.com/business/2026/05/21/ahead-of-the-spacex-ipo-a-look-at-the-biggest-stock-market-debuts-ever