SpaceX has amended its IPO filing to reserve up to 5% of its shares for a direct share program aimed at select employees and associates, which is a strategy that allows these individuals to benefit from the IPO similarly to institutional investors.
This offering is projected to raise around $75 billion, following a valuation of $1.25 trillion earlier this year after merging with Elon Musk's AI startup, xAI. The IPO is significant as it could set a record for tech companies, with only Facebook and Alibaba having surpassed $100 billion on their first trading day.
The company plans to start its roadshow this week, with a potential Nasdaq debut on June 12, and has appointed Goldman Sachs as the lead underwriter while Morgan Stanley will manage the direct share program.
Additionally, the amended filing reveals details about SpaceX's relationship with Anthropic, which is both a customer and competitor, including a substantial leasing agreement for compute capacity that could be terminated after six months. Anthropic has also filed for its own IPO, indicating a busy period for tech IPOs that could attract significant investor interest