SpaceX on Friday successfully completed the 12th test flight of its massive Starship rocket system, with the spacecraft making a controlled splashdown in the Indian Ocean after a high-risk mission that included several technical glitches during flight.

Ahead of a much anticipated IPO, SpaceX is carrying out a critical test of its giant, stainless steel rocket. Investors will be watching closely.

SpaceX's planned Starship launch follows the company's release of its IPO prospectus, which set the stage for what's likely to be a record offering.