SpaceX is targeting a confidential initial public offering filing as soon as next month, according to people familiar with the matter. The company, headquartered in Starbase, Texas, is expected to submit a draft registration statement to the U.S. Securities and Exchange Commission in March, keeping a June listing timetable in view.
If the offering proceeds on the schedule described by the sources, it would represent what those people described as the biggest-ever market debut. The proposed listing is also being framed as potentially the first of a sequence of major public offerings, with OpenAI and Anthropic PBC identified by the same sources as possible follow-on filings.
Those familiar with the situation emphasized that deliberations remain ongoing and that specifics could change. The company could elect to postpone its filing, the people said. Beyond the filing timetable and the potential follow-on offerings, no additional details were provided by the sources cited.
The company is owned by billionaire Elon Musk.
Context and implications
The planned confidential submission would use the SEC's process that allows companies to submit draft registration materials privately before a public filing, with the aim of refining disclosures ahead of a public launch. The timeline articulated by the sources indicates an expectation of a March draft submission and a June public offering date, but the people involved also noted that those milestones are not guaranteed.
While the prospective size of the offering was characterized by the sources as potentially the largest in history, those involved cautioned that considerations remain fluid and that the company could change course.
Bottom line
SpaceX is preparing for a confidential SEC filing as soon as next month and anticipates a March draft registration with an eye toward a June listing. The proposed IPO could be the largest-ever, and it may precede other significant technology IPOs. However, the timetable and details are not final and could be revised.