Aerospace company SpaceX has publicly released its investment prospectus ahead of its initial public offering (IPO) filed with the U.S. Securities and Exchange Commission (SEC).
According to Yonhap News on May 21, the prospectus, published on the SEC's website, states that SpaceX has applied for the listing of its Class A common stock on the Nasdaq and Nasdaq Texas under the ticker symbol 'SPCX.'
SpaceX aims to raise a record $75 billion through the IPO. If successful, the company's valuation is expected to reach $1.75 trillion.
The prospectus outlines SpaceX's mission to "ultimately build cities on the Moon and other planets."
Additionally, as of March 31 of this year, the company has successfully launched a total of 7,400 tons of cargo into orbit, boasting a 99% mission success rate for its Falcon rockets.
The company plans to conduct an IPO roadshow for institutional investors starting June 4, with the listing process expected to conclude by June 12.
Class A shares will be available for general investors, while a select few insiders, including CEO Elon Musk, will hold Class B shares with ten times the voting power.
Notably, Musk will retain over 80% of the total voting rights even after the IPO. He also has protections in place that prevent him from being dismissed without his consent, and any legal claims from shareholders must go through arbitration.
Goldman Sachs is the lead underwriter, with Morgan Stanley, Bank of America, Citigroup, and JPMorgan serving as co-managers. Mirae Asset Securities is also included in the underwriting group.
The prospectus leaves the allocation of SpaceX's public offering shares to each co-manager blank.
However, it appears that a domestic public offering in Korea will be difficult. The prospectus states that "the Class A common stock offered under this prospectus has not been registered under the Korean Capital Markets Act (FSCMA) and will not be registered in the future," indicating that the shares will be offered privately in Korea under the FSCMA.
Meanwhile, Mirae Asset Securities is reported to have invested approximately 800 billion won in SpaceX, with speculation that the Mirae Asset Group may receive around $5 billion worth of public offering shares.
* This article has been translated by AI.
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