North America Associated Press
SpaceX to offer record-breaking $11 billion stock sale, making it largest IPO in history
Elon Musk's SpaceX plans to take the company public through a massive stock sale, marking one of the largest in history as it loses billions of dollars annually. The exact terms and valuation have yet to be disclosed in a filing submitted by the company.
Elon Musk has announced plans to take the publicly-held space company SpaceX public in what could be the largest-ever initial public offering (IPO) of a private aerospace company. The filing indicates that the sale will result in the issuance of approximately 4 billion shares, valued at $5.6 billion, and is expected to raise significant funds for the company's ongoing operations. As a result of this transaction, SpaceX will become one of the largest publicly-traded companies in the industry. The exact timing and details of the IPO remain undisclosed.
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