SpaceX files initial paperwork for going public
SpaceX yesterday filed the first confidential paperwork the the Securities and Exchange Commission (SEC) for its initial public offering (IPO) of public stock, now targeting a June-July time frame.
The filing was reported by Bloomberg, the Wall Street Journal and Reuters, citing unnamed sources familiar with the matter. SpaceX did not immediately respond to a request for comment. The SEC said it had no comment on the matter. The filing will lead to a sale of shares by June or July, according to the published reports. Confidential filings are used by companies to share information with the SEC and investors before they have to disclose to the broader public.
How much SpaceX plans to raise through a sale of some of its shares are not yet available due to the confidential nature. But CEO and principal shareholder Elon Musk is expected to control a majority of voting shares once the details are revealed. And it could make Musk, already the world’s richest person, that much richer.
SpaceX was valued at $800 billion and xAI $230 billion at their most recent funding round in January according to PitchBook, a research firm that tracks the valuation of private companies. That puts the combined companies’ worth at more than $1 trillion.
SpaceX also now includes X (formerly Twitter) that Musk bought for $44 billion, so the combined company is actually even larger. We still do not know any details, such as the number of shares to be sold as well as the initial sale price. One rumor has indicated that SpaceX wants to reserve 30% for sale to individuals, a number much higher than usual. Other rumors say that Musk is designing the sale to make sure he remains the majority stock-holder and thus in control of all three companies.
Stock experts have predicted this stock sale could garner SpaceX as much as $75 billion in cash, which would give it the resources to not only build its proposed million-satellite data center constellation in orbit but also develop the Starship/Superheavy infrastructure to build its own data center on the Moon. And along the way SpaceX would have the funds to do its own space program to settle Mars.
If SpaceX does raise that much, it will truly become America’s space program, doing far more that NASA and much faster — financed voluntarily by the American people.
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The print edition can be purchased at Amazon or from any other book seller. If you want an autographed copy the price is $60 for the hardback and $45 for the paperback, plus $8 shipping for each. Go here for purchasing details. The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News
SpaceX yesterday filed the first confidential paperwork the the Securities and Exchange Commission (SEC) for its initial public offering (IPO) of public stock, now targeting a June-July time frame.
The filing was reported by Bloomberg, the Wall Street Journal and Reuters, citing unnamed sources familiar with the matter. SpaceX did not immediately respond to a request for comment. The SEC said it had no comment on the matter. The filing will lead to a sale of shares by June or July, according to the published reports. Confidential filings are used by companies to share information with the SEC and investors before they have to disclose to the broader public.
How much SpaceX plans to raise through a sale of some of its shares are not yet available due to the confidential nature. But CEO and principal shareholder Elon Musk is expected to control a majority of voting shares once the details are revealed. And it could make Musk, already the world’s richest person, that much richer.
SpaceX was valued at $800 billion and xAI $230 billion at their most recent funding round in January according to PitchBook, a research firm that tracks the valuation of private companies. That puts the combined companies’ worth at more than $1 trillion.
SpaceX also now includes X (formerly Twitter) that Musk bought for $44 billion, so the combined company is actually even larger. We still do not know any details, such as the number of shares to be sold as well as the initial sale price. One rumor has indicated that SpaceX wants to reserve 30% for sale to individuals, a number much higher than usual. Other rumors say that Musk is designing the sale to make sure he remains the majority stock-holder and thus in control of all three companies.
Stock experts have predicted this stock sale could garner SpaceX as much as $75 billion in cash, which would give it the resources to not only build its proposed million-satellite data center constellation in orbit but also develop the Starship/Superheavy infrastructure to build its own data center on the Moon. And along the way SpaceX would have the funds to do its own space program to settle Mars.
If SpaceX does raise that much, it will truly become America’s space program, doing far more that NASA and much faster — financed voluntarily by the American people.
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The print edition can be purchased at Amazon or from any other book seller. If you want an autographed copy the price is $60 for the hardback and $45 for the paperback, plus $8 shipping for each. Go here for purchasing details. The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News
“Stock experts have predicted this stock sale could garner SpaceX as much as $75 billion in cash, which would give it the resources to not only build its proposed million-satellite data center constellation in orbit but also develop the Starship/Superheavy infrastructure to build its own data center on the Moon. ”
What??? Only $75 billion to get one million satellite data center? Are you kidding me? Try $1 to 5 trillion. $75 billion is rounding error.