- SpaceX will reserve up to 5% of its IPO stock for some employees and friends and family of its executive officers.
- These shares would not have any lock-up restrictions.
- SpaceX is targeting a $1.8 trillion valuation
SpaceX will reserve up to 5% of its stock in its upcoming initial public offering (IPO) for some employees and friends and family of its executive officers, the rocket maker stated in an amended filing.
The Elon Musk-owned company's public issue is one of the most anticipated IPOs of 2026. In its amended filing, SpaceX specified the amount of Class A stock it is setting aside for its directed share program, Bloomberg reported. The company had revealed last month that participants on SpaceX's so-called friends and family list would not face a lock-up restriction.
While many IPOs have directed share programs, participants often face lock-ups that forbid them from immediately selling their stock.
SpaceX stated in its filing that over 60% of shares outstanding immediately before the public issue are subject to an extended lock-up period. This includes the stock held by Musk.
SpaceX will likely start formal marketing of its public issue on June 4, with pricing as early as June 11, as per Bloomberg News. Once the stock price is decided, the shares will start trading the next day.
As of now, the company is targeting a $1.8 trillion valuation. It aims to raise $75 billion from the issue, shattering the record held by Saudi Aramco's $29.4 billion IPO.
As many as 23 banks are involved in the SpaceX public issue, including Goldman Sachs Group Inc., JPMorgan Chase & Co., Morgan Stanley, Bank of America and Citigroup.
Last year, SpaceX recorded a revenue of $18.6 billion, but faced a net loss of $4.9 billion, BBC reported.
In the first three months of 2026, the Musk-owned rocket maker registered $4.7 billion in sales, but recorded a net loss of $4.3 billion.
SpaceX has $102 billion in assets like rockets and other equipment, but also carries a debt of $60.5 billion.
SpaceX's amended filing also reveals that its agreement to provide Anthropic PBC with AI computing capacity includes almost 325,000 chips from Nvidia Corp.
The agreement, under which Anthropic will pay $1.25 billion every month to SpaceX, runs through May 2029. After the initial three month period ends, the deal can be terminated by either company with 90 days notice.
Musk earlier said that the deal with Anthropic was valid for 180 days only, stating that it was a condition from their side, not the AI startup.
