SpaceX filed its S-1 registration statement with the US Securities and Exchange Commission on Wednesday, moving Elon Musk’s rocket, satellite internet, and AI infrastructure company closer to one of the most closely watched IPOs in market history.
The company plans to list its Class A common stock on Nasdaq and Nasdaq Texas under the ticker SPCX, according to the preliminary prospectus. Goldman Sachs, Morgan Stanley, BofA Securities, Citigroup, and J.P. Morgan are listed among the joint book-running managers for the offering.
The filing shows SpaceX generated $4.69 billion in first-quarter revenue and posted a $4.28 billion net loss, giving investors a first look at the scale of the company’s operations and the cost of its expansion. The company also disclosed holdings of 18,712 BTC at a cost basis of roughly $35,000 per Bitcoin, adding a crypto treasury angle to the IPO.
Musk will remain SpaceX’s chief executive, chief technical officer, and chairman of the board after the offering. The filing shows he owns 12.3% of Class A shares and 93.6% of Class B shares, giving him control through the company’s dual class structure.
Class A shares will carry one vote each, while Class B shares will carry 10 votes each. SpaceX said Musk will be able to control matters requiring shareholder approval, including board elections, and the company expects to qualify as a controlled company under Nasdaq rules.
