SpaceX outlined details of
its highly anticipated IPO at a meeting with its team of bankers
Monday night, telling them it plans to earmark a large portion
of shares for retail investors and will host 1,500 of them at an
event in June following the IPO roadshow launch, according to
two people familiar with the matter.
“Retail is going to be a critical part of this and a bigger
part than any IPO in history,” Chief Financial Officer Bret
Johnsen said during the virtual meeting, the two people said,
asking not to be identified because the discussion was private.
Johnsen said the large retail component is by design as
“those are folks that have been incredibly supportive of us and
of Elon (Musk) for a long time, and we want to make sure that we
recognize that.”
Reuters reported last month that SpaceX is rewriting the IPO
playbook with a large retail portion in the offering.
The meeting brought together the full syndicate for the
first time as part of the process for what is expected to be the
biggest initial public offering ever as the rocket maker seeks
to raise $75 billion, valuing SpaceX at as much as $1.75
trillion, Reuters has previously reported.