SpaceX reportedly launches IPO roadshow in early June

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Reuters, citing two people familiar with the matter, said that late Monday evening, SpaceX laid out details of its plans for an initial public offering (IPO) at a meeting with its underwriting team, after which it plans to hold an event following the start of IPO roadshows in June to invite 1,500 retail investors to participate.

The two people said that in the online meeting, Chief Financial Officer Bret Johnsen said that retail investors would be a key part of the IPO, and that their allocation would exceed that of any prior IPO in history. Such a large-scale retail allocation was intentional, because these investors have long provided the company and Musk with strong support, and the company wants to ensure that this is recognized.

Reuters reported last month that SpaceX is seeking to allocate a large portion of shares to retail investors in the IPO, rewriting IPO rules.

As part of the IPO process, this meeting was the first to bring together all members of the underwriting team. Earlier reports said that the rocket maker plans to raise $75 billion through the IPO, putting SpaceX’s valuation as high as $1.75 trillion and making it poised to become the largest IPO deal ever.

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