SpaceX publicly filed its S-1 registration statement last week for what is expected to the largest-ever IPO by a wide margin. The company is reportedly targeting a $75bn equity-raise at a $1.75tn valuation when it lists on 12 June. Less than $12bn has so far been invested in SpaceX’s equity.
SpaceX says its mission is “to extend the light of consciousness to the stars” and in that spirit Alphaville took another look at the prospectus. After all, it runs close to 400 pages once you include the appendices, so we couldn’t cover everything last week. Here are a few things that stood out to me:
TAM-tasy
Right out of the gate, SpaceX makes what must be the most ambitious market-sizing claim ever in an IPO filing.
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