Musk Declines to Sell SpaceX Shares Amidst IPO Speculation

Deep News05-16 17:41

Elon Musk, the billionaire technology entrepreneur from the United States, has stated that he will not sell any of his shares in SpaceX. This announcement comes amid reports that the company is preparing to publicly file its long-anticipated initial public offering (IPO) application as early as next week.

"I will not be selling any shares," Musk wrote in a response to a user's post on the social media platform X. The user had suggested that he sell SpaceX stock following the expiration of a lock-up period.

According to individuals familiar with the matter, the rocket, satellite, and artificial intelligence company could publicly file its IPO application as early as next Wednesday. The company has already submitted a confidential filing, seeking to raise up to $75 billion at a valuation exceeding $2 trillion. This would mark the largest IPO in history.

SpaceX shareholders were notified on Friday that the company will execute a 5-for-1 stock split. This move will lower the price per share for investors looking to purchase stock in the upcoming IPO. Sources indicate that due to this split, the current fair market value per share has been adjusted from $526.59 to approximately $105.32.

Previous reports have indicated that the company plans to commence formal marketing for the share offering as early as June 4, finalize the IPO price by June 11 at the earliest, and list its shares on June 12.

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