By Micah Maidenberg and Corrie Driebusch

The clock is officially ticking on SpaceX's huge stock offering.

SpaceX on Wednesday revealed new details about its financials and how Chief Executive Elon Musk will try to grow a sprawling enterprise dedicated to advancing cutting-edge technologies in space and back on Earth.

The company disclosed the information in an investor prospectus posted to the Securities and Exchange Commission's website. Publication of the document sets SpaceX on course to potentially raise tens of billions of dollars from a stock sale as soon as next month.

Musk has publicly touted out-of-this-world objectives for the company, from deploying a huge number of AI satellites in the future to eventually colonizing Mars.

Texas-based SpaceX has distinct businesses, ranging from rocket-launch and satellite operations to a nascent AI unit that is racing to catch up with rivals.

Founded by Musk nearly a quarter-century ago, SpaceX revolutionized the commercial space industry. The company has grown from a startup with a handful of employees that almost went out of business to one of the world's most valuable private companies. It controls technologies that rivals -- and even nation states -- haven't been able to fully match.

SpaceX had a valuation of $1.25 trillion after its combination with xAI earlier this year, The Wall Street Journal has reported.

SpaceX successfully developed a fleet of partially reusable Falcon 9 rockets that allowed it to dominate the global launch market. The company's Starlink satellite-internet business has grown quickly in recent years and boasts the largest satellite fleet in history.

Earlier this year, Musk transformed SpaceX by folding his xAI startup into the company, and recasting a big part of the combined enterprise's future around developing data centers in orbit to handle computing needed for AI.

"The capabilities we unlock by making space-based data centers a reality will fund and enable self-growing bases on the Moon, an entire civilization on Mars and ultimately expansion to the Universe," Musk said in a memo sent to employees about the xAI merger.

SpaceX is now tracking to begin selling shares in mid-June.

A company can launch its roadshow pitch to investors 15 days after the prospectus becomes public. That sets SpaceX up for a roadshow starting around June 4 and a stock-market debut on June 12.

Some former employees have said they have been stunned by SpaceX's move to go public, skeptical they would ever see the company pursue that path. Current and former staff who piled up company shares are now poised to see those holdings soar in value.

The offering would mark an enormous shift for a company where executives used to talk about avoiding the public markets until it was regularly launching rockets to Mars. Musk has frequently tussled with regulators in his role running Tesla, the electric-vehicle manufacturer where he also serves as CEO.

Chasing after the big opportunities the company sees ahead won't be easy. When discussing a potential human settlement on Mars in a 2023 interview with The Wall Street Journal, Musk said, "SpaceX is a harder problem because it's [a] much longer term goal and with a lot more money lost along the way."

Write to Micah Maidenberg at micah.maidenberg@wsj.com and Corrie Driebusch at corrie.driebusch@wsj.com

(END) Dow Jones Newswires

May 20, 2026 16:48 ET (20:48 GMT)

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