Quiet period begins, IPOs are near? SpaceX heads for $1.5 trillion 'epic' listing in 2026

The Zhitong Finance App learned that people familiar with the matter revealed that SpaceX has informed employees that the company is entering a regulatory silence period, which marks another step forward for the rocket and satellite manufacturer's initial public offering scheduled for 2026.

People familiar with the matter said that according to US Securities and Exchange Commission regulations, SpaceX requested employees not to comment, discuss, or promote the company's public offering plan (including topics such as its growth or valuation) in an internal email. One of those requesting anonymity indicated that the restrictions covered channels such as social media, interviews, meetings, and public appearances.

The so-called “quiet period” refers to a limited communication period where a company is prohibited from issuing public statements that may push up stock prices before listing, with the aim of ensuring that investors have equal access to information.

A representative for SpaceX did not immediately respond to a request for comment.

According to previous reports, SpaceX is advancing its IPO plan and plans to raise more than 30 billion US dollars through fundraising. The company's valuation may reach about 1.5 trillion US dollars, which is expected to become the largest listing transaction in history.

In a memorandum learned last Friday, SpaceX confirmed that it is preparing a possible public offering in 2026 to fund the construction of a “surprising launch frequency” for the Starship rocket it is developing, a space artificial intelligence data center, and a lunar base. At the same time, the company stated that the exact timing of the IPO and the corresponding valuation are uncertain, and there is a possibility that it will eventually abandon the plan.

As SpaceX completes an internal tender offer, the unlisted company's implied valuation has reached around $800 billion. According to reports, SpaceX's current internal stock sale price is 421 US dollars per share, which is a sharp jump from the previous secondary market transaction price. This valuation adjustment is expected to increase the book value of Google's long-term investment in Elon Musk's rocket and satellite company.

As a long-term investor in the company, Google (GOOGL.US) is expected to confirm another impressive book return as a result. Google has been an investor in SpaceX since at least 2015. At the time, the company and Fidelity Investments jointly participated in a round of financing of 1 billion US dollars, holding a total of about 10% of SpaceX's shares.

As SpaceX received a new round of valuation increases, Elon Musk's personal wealth also reached a new high, surpassing 600 billion US dollars for the first time.