SpaceX has filed for an initial public offering targeting June, pulling back the curtain on a business that has operated privately for over two decades. The filing discloses 18,712 BTC in holdings, significant accumulated losses on the balance sheet, and a super-voting share structure that keeps Elon Musk firmly in control. The Starship rocket is positioned as the backbone of SpaceX's ambitions in AI infrastructure and global satellite connectivity.
This is one of the most anticipated IPOs in a generation — SpaceX's public debut would give retail investors direct exposure to private space infrastructure, Starlink's satellite internet revenue, and a sizeable Bitcoin position for the first time. The dual-class share structure means buying in means accepting Musk's unilateral decision-making, a discount many growth investors are already pricing into Tesla. Accumulated losses signal this remains a capital-intensive growth story, not a cash-flow play.
June 2025: SpaceX IPO expected to price and begin trading. Watch for the SEC's S-1 registration statement becoming effective, which will confirm the final offer price and share structure. Also monitor any Starship launch outcomes before the IPO date, as mission success or failure could directly influence investor sentiment and valuation.
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