SpaceX Inc. has set June 11 as the target date for pricing its initial public offering, with trading on the Nasdaq expected to begin as early as June 12, according to people familiar with the matter. The timeline was accelerated after the Securities and Exchange Commission completed its review of the company’s filings faster than anticipated.
Nasdaq Selected for Listing
The company picked the Nasdaq exchange for its public market debut. The decision ends months of speculation over which exchange would host one of the most anticipated IPOs in recent years. SpaceX had evaluated both the New York Stock Exchange and Nasdaq before settling on the latter.
Accelerated SEC Review
The faster-than-expected SEC review pushed the entire IPO schedule forward by several weeks. SpaceX originally planned to price the offering in late June. The regulatory green light came sooner than the company’s underwriters had projected, allowing them to move up the roadshow and investor meetings.
What Comes Next
SpaceX has not yet disclosed the expected price range or the number of shares to be offered. Those details are likely to emerge later this week, when the company files an updated prospectus. Underwriters led by major investment banks are already gauging demand from institutional investors. The IPO is expected to value the rocket-and-satellite company at well over $100 billion.
