Elon Musk’s rocket company SpaceX has revealed key information about its upcoming initial public offering during a Monday evening conference with its banking team, according to two sources with knowledge of the discussion.
The aerospace manufacturer announced plans to reserve a substantial number of shares specifically for individual investors and will invite 1,500 of them to a special gathering in June after launching its IPO roadshow, the sources reported.
During the virtual conference, Chief Financial Officer Bret Johnsen emphasized the company’s commitment to retail participation. “Retail is going to be a critical part of this and a bigger part than any IPO in history,” Johnsen stated, according to the two individuals who requested anonymity due to the confidential nature of the meeting.
Johnsen explained that the substantial retail component represents an intentional strategy, noting that “those are folks that have been incredibly supportive of us and of Elon (Musk) for a long time, and we want to make sure that we recognize that.”
The gathering marked the first time the complete banking syndicate came together as part of preparations for what could become the largest initial public offering on record. SpaceX aims to secure $75 billion in funding, which would establish the company’s worth at approximately $1.75 trillion, according to previous reports.
This approach represents a departure from traditional IPO strategies, with SpaceX prioritizing individual investor participation over institutional buyers in its public market debut.
