SpaceX speeds up IPO plans, targets Nasdaq listing by June 12: Report

Elon Musk’s aerospace giant SpaceX is now preparing for its stock market debut to list its shares on the Nasdaq as early as June 12. According to a Reuters report, people familiar with the matter revealed that the company has actively accelerated its IPO timeline.

The space company will trade under the highly speculated 'SPCX' ticker and expect the public prospectus as soon as next Wednesday, the report said. Sources told Reuters the company is targeting a June 4 roadshow launch, followed by the share sale around June 11.

Meanwhile, Business Today could not independently verify these claims.

The move shifts the debut away from its original late-June target, which had coincided with Musk’s birthday.

While Reuters previously reported that SpaceX is eyeing a $75 billion raise at a staggering $1.75 trillion valuation. That figure marks a jump from the $1.25 trillion combined valuation recorded in February during SpaceX's merger with Musk’s xAI startup. Wall Street heavyweights like JPMorgan, Goldman Sachs, Morgan Stanley, Bank of America, and Citigroup are leading the offering alongside 16 other banks, the report said.

“It comes on the heels of the ​recent rollout of Nasdaq's highly ​anticipated 'fast entry' rules to speed ⁠up the entry of newly listed large-cap companies to its benchmark Nasdaq-100 index,” Reuters said.

“SPCX was previously the ticker for ​Tuttle Capital Management's SPAC-focused ETF before the firm switched to the SPCK ticker in April,” it said

This mega-listing arrives right as the broader IPO market bounces, with AI heavyweights like OpenAI and Anthropic also expected in the queue. So far, SpaceX, Nasdaq, and the SEC have all declined to comment on the developments, Reuters said.