Bloomberg / Getty Images
SpaceX is targeting June 12 for its stock market debut on the Nasdaq $NDAQ -1.48%, accelerating a process that had previously been expected to conclude in late June, according to Reuters. The company plans to price its shares on June 11 under the ticker SPCX.
At $75 billion, the anticipated capital raise would set an all-time IPO record, eclipsing the $29 billion that Saudi Aramco collected when it went public in 2019, according to Reuters, which also reported a target valuation of up to $1.75 trillion. The Wall Street Journal reported the company could seek to raise $80 billion or more.
A faster-than-expected regulatory review by the SEC contributed to the decision to move up the timeline, according to Reuters. SpaceX could make its prospectus public as early as next week, with a roadshow set to begin June 4.
Beating out the New York Stock Exchange, Nasdaq was selected as the listing venue — a choice that analysts have linked in part to a rule the exchange introduced on May 1. Under what Nasdaq calls its "fast entry" provision, a newly public company of sufficient size can qualify for the Nasdaq-100 after only 15 trading sessions, according to Yahoo Finance, which means index-tracking funds would be compelled to buy into SpaceX soon after its debut.
