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    SpaceX Prospectus Expected Within Two Weeks as $1.75 Trillion IPO Takes Shape

    SpaceX is about to show the public its books for the first time. The company's prospectus, the detailed financial filing required before shares can trade, is expected to go public between May 15 and May 22. That puts the biggest IPO in American history roughly six weeks from its target listing date. Tesla investors who followed Elon Musk into that stock early are watching this one closely.

    By VonTrend Staff
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    Why May 15 to 22 Matters

    SEC rules require companies to release their registration statement at least 15 days before starting a marketing roadshow. SpaceX has reportedly scheduled its roadshow to begin the week of June 8. Working backward, that puts the prospectus release squarely in the May 15 to 22 window.

    SpaceX filed a confidential S-1 with the SEC on April 1. That filing gave regulators a first look at the company's finances without making them public. The prospectus converts that confidential filing into a document anyone can read. It will include revenue, profits, debt, risk factors, and how the company plans to use the money it raises.

    The Numbers So Far

    Based on reporting from multiple outlets, SpaceX posted $18.67 billion in revenue for 2025 and projects $20 billion for 2026. The company reported $14 billion in EBITDA (earnings before interest, taxes, depreciation, and amortization), which is a measure of operating profit.

    The IPO targets a $1.75 trillion valuation. At that price, SpaceX would raise over $75 billion, smashing the current global record of $29.4 billion set by Saudi Aramco in 2019. Morgan Stanley, Goldman Sachs, and JPMorgan are leading the deal.

    30% for Retail Investors

    The most unusual feature of this IPO is the retail allocation. Musk plans to set aside 30% of shares for everyday investors. That is three times the normal allocation for a major IPO. SpaceX reportedly plans to host around 1,500 retail investors during its roadshow launch on June 11.

    For context, most large IPOs reserve 10% or less for retail buyers. The rest goes to institutional investors like pension funds and hedge funds. A 30% allocation would give individual investors a real shot at buying shares at the offering price, not the inflated price that often appears once trading begins.

    How to Prepare

    The prospectus will answer questions that have been impossible to verify until now. Watch for Starlink's revenue breakdown, the company's debt load after the xAI merger, and any customer concentration risks. The Kalshi prediction market now puts the odds of a SpaceX IPO by September 30 at 90%.

    The takeaway: if you want to own SpaceX at the IPO price, the next two weeks are when you start preparing. Open a brokerage account that participates in IPO allocations. Read the prospectus when it drops. And decide in advance how much you are willing to pay for a company valued at nearly $2 trillion before it ever trades publicly.

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    VonTrend Staff