SpaceX Set for Historic Stock Market Debut with 5-for-1 Split
SpaceX shareholders have approved a 5-for-1 stock split, with shares' value adjusted from $526.59 to $105.32. The split will occur during the week of May 18. SpaceX aims for a historic IPO on Nasdaq by June 12, seeking to raise $75 billion with a $1.75 trillion valuation.
SpaceX shareholders have overwhelmingly approved a board-recommended 5-for-1 stock split, according to Bloomberg News, which cited sources familiar with the discussion.
The revised stock price, now set at $105.32 per share from its previous $526.59, will take effect in the week of May 18, Bloomberg reported.
As Reuters exclusively revealed, the company plans its high-profile Nasdaq market debut around June 12, aiming to raise $75 billion on a valuation of approximately $1.75 trillion, potentially marking the largest IPO in history.
(With inputs from agencies.)
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