Elon Musk's SpaceX is reportedly showing potential anchor investors its facilities in California, Mississippi, and Texas as the company gears up for its initial public offering (IPO).
Earlier this month, SpaceX submitted a draft initial public offering registration to the U.S. Securities and Exchange Commission (SEC).
The company is now targeting a May listing with a valuation of more than $1.75 trillion making it the largest IPO in history, surpassing Saudi Aramco's $29 billion debut in 2019. The offering is expected to price the week of June 15, Bloomberg reported.
SpaceX will be offering this tour across America for large stakes investors such as sovereign wealth funds. The plane is set to depart from New York, although plans and dates are subject to change, uncited sources told Bloomberg.
According to previous reports, Bank of America, Goldman Sachs, JPMorgan Chase and Morgan Stanley have all secured senior roles on the deal. Citigroup is also among the banks preparing the IPO.
International banks are also taking part in the process. Royal Bank of Canada, Mizuho Financial Group and Macquarie Group are all focused on managing shares from their respective locations.
SpaceX Chief Financial Officer Bret Johnson reminded bankers working on the IPO process not to reveal confidential information to the public. Johnson noted he is "unhappy" about the leaks that have been released to the media regarding the company's IPO plans.
In December, SpaceX notified its employees via an internal email that it would be entering a regulatory quiet period, which is a legally restricted timeframe surrounding a company's registration of new securities, such as an IPO.
The quiet period requires employees to refrain from making any public statements about the company's IPO plans, including its valuation or growth prospects. This restriction applies across all channels, including social media, interviews, conferences, and public appearances.
