A SpaceX Falcon 9 rocket is ready for launch carrying NASA’s IMAP mission, which can research the boundary of the solar’s heliosphere and different scientific payloads, on the Kennedy Area Middle in Cape Canaveral, Florida, Sept. 23, 2025.
Joe Skipper | Reuters
SpaceX is working with at the least 21 banks on its blockbuster preliminary public providing, folks accustomed to the matter mentioned on Tuesday, one of many largest underwriting syndicates assembled in recent times.
The itemizing, internally codenamed Venture Apex, is anticipated to be among the many most intently watched inventory market debuts on Wall Avenue. The general public providing, anticipated in June, is estimated to worth the rocket firm managed by founder and CEO Elon Musk at $1.75 trillion.
Morgan Stanley, Goldman Sachs, JPMorgan Chase, Financial institution of America and Citigroup are serving as lively bookrunners, or the lead banks managing the deal, the folks mentioned, asking to not be recognized as a result of the method is just not public. An additional 16 banks have signed on in smaller roles, they added.
About half of the banks’ names haven’t beforehand been reported.
The scale of the syndicate underscores the dimensions and complexity of the deliberate providing.
Banks along with the lively bookrunners embrace:
The banks are anticipated to tackle roles in institutional, high-net-worth and retail investor channels in addition to in several geographic areas, Reuters beforehand reported.
The plan is topic to alter and extra banks may nonetheless be added, the sources mentioned.
Texas-based SpaceX didn’t instantly reply to a request for remark. Financial institution of America, Barclays, Deutsche Financial institution, Goldman Sachs, JPMorgan, Mizuho, Santander and Wells Fargo declined to remark. The opposite banks didn’t instantly reply to requests for remark.
Massive IPO syndicates have turn out to be extra frequent for mega offers in recent times.
Chip designer ARM Holdings labored with near 30 banks on its 2023 itemizing, whereas Alibaba Group assembled a equally massive group of underwriters for its record-breaking 2014 debut.
