SpaceX shareholders back five-for-one stock split ahead of potential Nasdaq debut
The approval, reported by Bloomberg News, sets the stage for a listing on the Nasdaq as early as June 12, with aims to raise $75 billion.
SpaceX shareholders have voted in favour of a five-for-one stock split, a move recommended by the company’s board and reported by Bloomberg News on Friday. The approval marks a significant procedural step for the private aerospace firm as it prepares for a potential transition to public markets.
Following the shareholder vote, the company adjusted the fair market value of its shares from $526.59 to $105.32. Investors were notified of this adjustment via email, according to the report, which cited people familiar with the matter. The administrative processing of the split is scheduled to commence during the week of May 18, with completion expected by May 22.
This corporate restructuring follows exclusive reporting by Reuters indicating that SpaceX is targeting a stock market listing as early as June 12. The company has selected the Nasdaq as the preferred trading venue for its initial public offering, a move that would see the rocket and satellite manufacturer join the ranks of major global technology firms.
The proposed flotation is projected to raise approximately $75 billion. If executed at these figures, the offering would value SpaceX at roughly $1.75 trillion, potentially making it the largest stock market flotation in history. These valuations remain estimates based on previous reports and are subject to change before the actual listing occurs.
SpaceX did not immediately respond to requests for comment outside regular business hours. The upcoming timeline suggests a rapid transition from private shareholder approval to public market debut, with the Nasdaq listing potentially occurring within weeks of the split’s completion.
