US tech billionaire Elon Musk says he will not sell any SpaceX shares. It was previously reported that the company was preparing to publicly submit its long-awaited IPO application as early as next week. "I will not be selling any shares," Musk wrote in response to a netizen's post on the X platform. The netizen suggested that he sell SpaceX shares after the lock-up period ends.
The rocket, satellite and artificial intelligence company could publicly file for an IPO as early as next Wednesday, according to people familiar with the matter. The company has filed confidentially, seeking to raise up to $75 billion at a valuation of more than $2 trillion, in what would be the largest IPO in history.
SpaceX shareholders were notified on Friday that the company will conduct a 5-for-1 stock split, a move that will lower the price investors pay for each share in the upcoming IPO. As a result of the stock split, the current fair market value per share has been adjusted from $526.59 to approximately $105.32, according to people familiar with the matter.
According to previous reports, the company plans to launch formal marketing activities for the stock issuance as early as June 4, determine the IPO price as early as June 11, and go public on June 12.