JPMorgan Chase CEO Jamie Damon Will host a discussion about SpaceXThe IPO will be broadcast to the bank’s 90 locations in 26 states, Bloomberg reports I mentioned Wednesday (June 3), citing an unnamed source.
The discussion, scheduled for Thursday (June 4), is expected to reach 2,500 of the bank’s high-net-worth clients, according to the report.
JPMorgan Chase, contacted by PYMNTS, declined to comment on the report.
According to a Bloomberg report, while banks often hold pre-IPO promotional events, this event has an “extraordinary scope” that reflects the demand for SpaceX’s market debut, which is likely to be the largest ever as it targets a $1.8 trillion valuation, and the importance of retail investors in it. Elon MuskCompanies.
JPMorgan Chase is one of 23 banks working to list SpaceX, according to the report.
Reuters too I mentioned about the discussion on Wednesday, saying it would be the bank’s first such event on this scale. The event’s focus on retail investors is “highly unusual,” the report said.
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SpaceX said Wednesday in an amendment Deposit With the SEC expecting to price the IPO at $135 per share and receive $74.4 billion in net proceeds from the offering, or $85.7 billion if the underwriters exercise their option to purchase additional shares.
“We intend to use the net proceeds from this offering to fund our growth strategy, including expansion of our AI computing infrastructure, improvements to our launch infrastructure and launch vehicles, increases in the size and capacity of our satellite constellations, and any remaining amounts for general corporate purposes,” SpaceX said in its filing.
PYMNTS reported in May that according to SpaceX IPO After filing, the next AI narrative revolves around power, cooling, chips, connectivity, launch capability, and sovereign computing.
Reuters I mentioned On Wednesday, SpaceX bucked Wall Street norms by setting its IPO price a week early and bypassing the usual price discovery process.
Raising $75 billion would make this the largest IPO ever, the report said, and achieving a valuation of $1.75 trillion would rank SpaceX among the top 10 most valuable US listed companies.
SpaceX shares are scheduled to begin trading on the Nasdaq on June 12, according to the report.
