SpaceX plans to raise at least $75 billion through an IPO

BlockBeats News, June 3rd, according to Bloomberg, sources familiar with the matter revealed on Tuesday that Elon Musk's rocket and satellite company SpaceX plans to raise at least $75 billion through a record-breaking initial public offering (IPO).

Sources said that after preliminary discussions with investors, the company has indicated a target valuation of $1.75 trillion (including the greenshoe option). Sources mentioned that the greenshoe option gives underwriters the right to issue additional shares in case of higher-than-expected demand from investors. However, the sources cautioned that plans, including the fundraising target, could change as investor meetings progress.

Insiders said that this IPO is expected to follow a novel stock issuance structure, which means all funds raised will belong to the company, not existing shareholders.