SpaceX picks Goldman Sachs to lead record-breaking IPO, sources say
Elon Musk's space company SpaceX has selected Goldman Sachs as lead-left bookrunner for an upcoming IPO expected to be one of the largest in US history. The deal is being built on Starlink's operational track record.
Elon Musk's private space company SpaceX has selected Goldman Sachs as the lead-left bookrunner for what is expected to be one of the largest US IPOs ever, CNBC reported, citing sources close to the deal. The lead-left position means the bank will head the syndicate.
Valuation has not yet been finalised, but recent private-market rounds put SpaceX at around $350 billion. The offering is being supported by Starlink, the satellite internet service that has reached millions of subscribers, with the company also reporting positive operating cash flow.
The selection puts Goldman ahead of rivals including JPMorgan and Morgan Stanley in the mandate race. The deal is expected to come to market before year-end; SpaceX has not commented. The listing could become the most consequential primary-market benchmark of the year for US equities.
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